{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}R:\WSV2\TBu_AKe\Spatial_NEW\Wmat_SCB_XVal\spatial_6_regs_s_1602_xval.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res}16 Feb 2023, 16:23:25
{txt}
{com}.  
. 
.                         ***************************
.                         * run regression: OLS, fe *
.                         ***************************     
.                         
. cd "C:\Users\hy65byfe\Desktop\smerge_0712\SCB_4950"     
{res}C:\Users\hy65byfe\Desktop\smerge_0712\SCB_4950
{txt}
{com}. *cd "R:\WSV2\TBu_AKe\Spatial_NEW\SCB_4950"      
. use spatial_regs_s_0611_monthly, replace
{txt}
{com}. 
. *cd "C:\Users\hy65byfe\Desktop\smerge_0712\SCB_4950"                    
. *use spatial_regs_s_monthly_0102_overlap, replace  
.                         
. *preserve
. *spmatrix dir 
. keep if year == 2014 // no changes. otherwise matrices are wrong in previous.   
{txt}(0 observations deleted)

{com}.         
.         
.                         ***************************
.                         ***** Single Matrix *****
.                         ***************************     
.                 
. 
. ** log and ihs transformations to the untransformed data **
. 
.                 *** outcomes and polar cases (no q indexing needed, only double loop)
. foreach varx of varlist csd L3_sd               ccd L3_cd     {c -(}
{txt}  2{com}. 
.    gen     log_`varx'=log(1+`varx')
{txt}  3{com}.    gen     ihs_`varx'=`varx'+(`varx'^2+1)^0.5
{txt}  4{com}.    quietly replace ihs_`varx'=log(ihs_`varx')
{txt}  5{com}.  {c )-}
{txt}(1 missing value generated)

{com}.  
.  
.                 *** spatial variables *** 
. forvalues q = 1(1)8 {c -(} 
{txt}  2{com}.         foreach varx of varlist         S`q'_L3_sd C`q'_L3_sd B`q'_L3_sd S`q'_L3_cd C`q'_L3_cd B`q'_L3_cd       {c -(}
{txt}  3{com}. 
.    gen     log_`varx'=log(1+`varx')
{txt}  4{com}.    gen     ihs_`varx'=`varx'+(`varx'^2+1)^0.5
{txt}  5{com}.    quietly replace ihs_`varx'=log(ihs_`varx')
{txt}  6{com}.         {c )-}
{txt}  7{com}. {c )-}
{txt}
{com}. 
.                         **********************************************
.                         *****   Cross-validation over countries  *****
.                         **********************************************
.                         
. replace ccode = 7 if ccode == 8 // make list run 1-7 (Serbia was 7, SVN was 8)
{txt}(59,400 real changes made)

{com}. 
. forvalues q = 1(1)8 {c -(} 
{txt}  2{com}. gen v_e_`q' = . // empty vector 
{txt}  3{com}. 
. {c )-}
{txt}(415,800 missing values generated)
(415,800 missing values generated)
(415,800 missing values generated)
(415,800 missing values generated)
(415,800 missing values generated)
(415,800 missing values generated)
(415,800 missing values generated)
(415,800 missing values generated)

{com}.                 
.                 ******************
.                 *** Fan (S) ******
.                 ******************
. 
.     ** Results for log transformed data **
.         
. forvalues i = 1(1)7 {c -(}   // loop over countries 
{txt}  2{com}.         forvalues q = 1(1)8 {c -(} // loop over directions 
{txt}  3{com}.         
.                 reghdfe  log_csd    log_L3_sd   log_S`q'_L3_sd                                                          if cell <= 50 & year == 2014 & ccode != `i', absorb(cell ccode month) vce(cluster cell) //  excl. country i
{txt}  4{com}.                 estimates store log_S`q'
{txt}  5{com}.                 predict log_S`q'_`i', xb
{txt}  6{com}.                 gen err_S`q'_`i' =  log_csd - log_S`q'_`i'                                                                              if cell <= 50 & year == 2014  // note: residuals option in reghdfe is faster, but does not predict out-of-sample 
{txt}  7{com}.                 replace v_e_`q' = err_S`q'_`i' if ccode == `i' // copy to empty vector 
{txt}  8{com}.                 /* check predictions 
>                 sum err_S`q'_`i' if ccode == 1 // 600
>                 sum err_S`q'_`i' // 4,200 
>                 */ 
.         {c )-}
{txt}  9{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.71
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8815
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8792
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1706
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7408

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .320771{col 26}{space 2} .0775458{col 37}{space 1}    4.14{col 46}{space 3}0.000{col 54}{space 4} .1649369{col 67}{space 3} .4766051
{txt}log_S1_L3_sd {c |}{col 14}{res}{space 2}   .16763{col 26}{space 2} .0876366{col 37}{space 1}    1.91{col 46}{space 3}0.062{col 54}{space 4}-.0084824{col 67}{space 3} .3437424
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} -.493196{col 26}{space 2} .6011448{col 37}{space 1}   -0.82{col 46}{space 3}0.416{col 54}{space 4}-1.701242{col 67}{space 3} .7148498
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     17.19
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8802
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8779
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1615
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7448

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3348115{col 26}{space 2} .0803108{col 37}{space 1}    4.17{col 46}{space 3}0.000{col 54}{space 4} .1734209{col 67}{space 3} .4962021
{txt}log_S2_L3_sd {c |}{col 14}{res}{space 2} .0426104{col 26}{space 2} .0546055{col 37}{space 1}    0.78{col 46}{space 3}0.439{col 54}{space 4}-.0671235{col 67}{space 3} .1523443
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5259982{col 26}{space 2} .1068486{col 37}{space 1}    4.92{col 46}{space 3}0.000{col 54}{space 4} .3112778{col 67}{space 3} .7407185
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.97
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8797
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8774
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1585
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7462

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3365135{col 26}{space 2} .0776418{col 37}{space 1}    4.33{col 46}{space 3}0.000{col 54}{space 4} .1804865{col 67}{space 3} .4925406
{txt}log_S3_L3_sd {c |}{col 14}{res}{space 2}-.0074927{col 26}{space 2} .0404111{col 37}{space 1}   -0.19{col 46}{space 3}0.854{col 54}{space 4}-.0887018{col 67}{space 3} .0737164
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6380392{col 26}{space 2} .0978228{col 37}{space 1}    6.52{col 46}{space 3}0.000{col 54}{space 4} .4414569{col 67}{space 3} .8346215
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.04
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8813
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8790
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1696
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7413

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3320439{col 26}{space 2} .0798648{col 37}{space 1}    4.16{col 46}{space 3}0.000{col 54}{space 4} .1715495{col 67}{space 3} .4925382
{txt}log_S4_L3_sd {c |}{col 14}{res}{space 2} .0854327{col 26}{space 2} .0665796{col 37}{space 1}    1.28{col 46}{space 3}0.205{col 54}{space 4} -.048364{col 67}{space 3} .2192294
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5406245{col 26}{space 2} .0836484{col 37}{space 1}    6.46{col 46}{space 3}0.000{col 54}{space 4} .3725268{col 67}{space 3} .7087222
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.41
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8798
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8775
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1590
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7460

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3347993{col 26}{space 2} .0774182{col 37}{space 1}    4.32{col 46}{space 3}0.000{col 54}{space 4} .1792217{col 67}{space 3} .4903769
{txt}log_S5_L3_sd {c |}{col 14}{res}{space 2} .0247379{col 26}{space 2} .0755185{col 37}{space 1}    0.33{col 46}{space 3}0.745{col 54}{space 4}-.1270222{col 67}{space 3}  .176498
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6099103{col 26}{space 2} .0898604{col 37}{space 1}    6.79{col 46}{space 3}0.000{col 54}{space 4} .4293292{col 67}{space 3} .7904915
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     14.04
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8854
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8832
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1985
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7282

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3053365{col 26}{space 2} .0741826{col 37}{space 1}    4.12{col 46}{space 3}0.000{col 54}{space 4}  .156261{col 67}{space 3} .4544119
{txt}log_S6_L3_sd {c |}{col 14}{res}{space 2} .1546133{col 26}{space 2} .0513414{col 37}{space 1}    3.01{col 46}{space 3}0.004{col 54}{space 4}  .051439{col 67}{space 3} .2577877
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3543174{col 26}{space 2} .1104031{col 37}{space 1}    3.21{col 46}{space 3}0.002{col 54}{space 4}  .132454{col 67}{space 3} .5761807
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.49
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8830
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8807
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1811
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7361

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .317549{col 26}{space 2} .0748943{col 37}{space 1}    4.24{col 46}{space 3}0.000{col 54}{space 4} .1670433{col 67}{space 3} .4680547
{txt}log_S7_L3_sd {c |}{col 14}{res}{space 2} .1358412{col 26}{space 2} .0579584{col 37}{space 1}    2.34{col 46}{space 3}0.023{col 54}{space 4} .0193693{col 67}{space 3}  .252313
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3261033{col 26}{space 2} .1482081{col 37}{space 1}    2.20{col 46}{space 3}0.033{col 54}{space 4} .0282679{col 67}{space 3} .6239387
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.50
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8856
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8834
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1993
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7278

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2956631{col 26}{space 2} .0712522{col 37}{space 1}    4.15{col 46}{space 3}0.000{col 54}{space 4} .1524765{col 67}{space 3} .4388497
{txt}log_S8_L3_sd {c |}{col 14}{res}{space 2} .2422841{col 26}{space 2} .0862891{col 37}{space 1}    2.81{col 46}{space 3}0.007{col 54}{space 4} .0688797{col 67}{space 3} .4156885
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .0400009{col 26}{space 2}   .22759{col 37}{space 1}    0.18{col 46}{space 3}0.861{col 54}{space 4}-.4173583{col 67}{space 3} .4973601
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.47
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0007
{txt}{col 51}R-squared{col 67}= {res}    0.8827
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8804
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1859
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7149

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3478982{col 26}{space 2} .0993337{col 37}{space 1}    3.50{col 46}{space 3}0.001{col 54}{space 4} .1482798{col 67}{space 3} .5475167
{txt}log_S1_L3_sd {c |}{col 14}{res}{space 2} .1082195{col 26}{space 2}  .061047{col 37}{space 1}    1.77{col 46}{space 3}0.082{col 54}{space 4}-.0144591{col 67}{space 3} .2308981
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.1563976{col 26}{space 2} .4077243{col 37}{space 1}   -0.38{col 46}{space 3}0.703{col 54}{space 4}-.9757502{col 67}{space 3} .6629549
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.64
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0006
{txt}{col 51}R-squared{col 67}= {res}    0.8817
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8794
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1790
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7180

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3577796{col 26}{space 2}  .098627{col 37}{space 1}    3.63{col 46}{space 3}0.001{col 54}{space 4} .1595813{col 67}{space 3}  .555978
{txt}log_S2_L3_sd {c |}{col 14}{res}{space 2} .0072856{col 26}{space 2} .0544008{col 37}{space 1}    0.13{col 46}{space 3}0.894{col 54}{space 4}-.1020368{col 67}{space 3}  .116608
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .543544{col 26}{space 2} .1190909{col 37}{space 1}    4.56{col 46}{space 3}0.000{col 54}{space 4}  .304222{col 67}{space 3}  .782866
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.21
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8818
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8795
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1796
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7177

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .357821{col 26}{space 2} .0987028{col 37}{space 1}    3.63{col 46}{space 3}0.001{col 54}{space 4} .1594702{col 67}{space 3} .5561717
{txt}log_S3_L3_sd {c |}{col 14}{res}{space 2}-.0204763{col 26}{space 2} .0350889{col 37}{space 1}   -0.58{col 46}{space 3}0.562{col 54}{space 4}-.0909902{col 67}{space 3} .0500376
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5894202{col 26}{space 2} .1085361{col 37}{space 1}    5.43{col 46}{space 3}0.000{col 54}{space 4} .3713087{col 67}{space 3} .8075317
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.93
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0005
{txt}{col 51}R-squared{col 67}= {res}    0.8835
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8813
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1917
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7124

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3520358{col 26}{space 2} .0992947{col 37}{space 1}    3.55{col 46}{space 3}0.001{col 54}{space 4} .1524956{col 67}{space 3}  .551576
{txt}log_S4_L3_sd {c |}{col 14}{res}{space 2} .0865046{col 26}{space 2} .0532575{col 37}{space 1}    1.62{col 46}{space 3}0.111{col 54}{space 4}-.0205205{col 67}{space 3} .1935296
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4752973{col 26}{space 2} .0838248{col 37}{space 1}    5.67{col 46}{space 3}0.000{col 54}{space 4}  .306845{col 67}{space 3} .6437495
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.04
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8817
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8794
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1789
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7180

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3578676{col 26}{space 2} .0975794{col 37}{space 1}    3.67{col 46}{space 3}0.001{col 54}{space 4} .1617744{col 67}{space 3} .5539608
{txt}log_S5_L3_sd {c |}{col 14}{res}{space 2}-.0051497{col 26}{space 2} .0701922{col 37}{space 1}   -0.07{col 46}{space 3}0.942{col 54}{space 4}-.1462063{col 67}{space 3} .1359068
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5652924{col 26}{space 2} .1116433{col 37}{space 1}    5.06{col 46}{space 3}0.000{col 54}{space 4} .3409368{col 67}{space 3}  .789648
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.73
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8845
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8823
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1984
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7094

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3388109{col 26}{space 2} .0958364{col 37}{space 1}    3.54{col 46}{space 3}0.001{col 54}{space 4} .1462204{col 67}{space 3} .5314013
{txt}log_S6_L3_sd {c |}{col 14}{res}{space 2} .1027924{col 26}{space 2} .0414567{col 37}{space 1}    2.48{col 46}{space 3}0.017{col 54}{space 4} .0194819{col 67}{space 3} .1861028
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3827087{col 26}{space 2} .1029172{col 37}{space 1}    3.72{col 46}{space 3}0.001{col 54}{space 4} .1758889{col 67}{space 3} .5895285
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.49
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0015
{txt}{col 51}R-squared{col 67}= {res}    0.8830
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8807
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1878
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7141

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3468338{col 26}{space 2} .0974625{col 37}{space 1}    3.56{col 46}{space 3}0.001{col 54}{space 4} .1509756{col 67}{space 3} .5426919
{txt}log_S7_L3_sd {c |}{col 14}{res}{space 2} .0811794{col 26}{space 2} .0466372{col 37}{space 1}    1.74{col 46}{space 3}0.088{col 54}{space 4}-.0125415{col 67}{space 3} .1749003
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3853971{col 26}{space 2} .1317342{col 37}{space 1}    2.93{col 46}{space 3}0.005{col 54}{space 4} .1206673{col 67}{space 3} .6501269
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.01
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0010
{txt}{col 51}R-squared{col 67}= {res}    0.8859
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8837
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2083
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7050

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3282915{col 26}{space 2} .0923001{col 37}{space 1}    3.56{col 46}{space 3}0.001{col 54}{space 4} .1428075{col 67}{space 3} .5137755
{txt}log_S8_L3_sd {c |}{col 14}{res}{space 2} .2005791{col 26}{space 2} .0862728{col 37}{space 1}    2.32{col 46}{space 3}0.024{col 54}{space 4} .0272074{col 67}{space 3} .3739509
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .0785721{col 26}{space 2}  .236727{col 37}{space 1}    0.33{col 46}{space 3}0.741{col 54}{space 4}-.3971487{col 67}{space 3} .5542929
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     15.36
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8851
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8829
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2058
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6881

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3427371{col 26}{space 2} .0718795{col 37}{space 1}    4.77{col 46}{space 3}0.000{col 54}{space 4} .1982899{col 67}{space 3} .4871843
{txt}log_S1_L3_sd {c |}{col 14}{res}{space 2} .2056268{col 26}{space 2}  .097343{col 37}{space 1}    2.11{col 46}{space 3}0.040{col 54}{space 4} .0100088{col 67}{space 3} .4012448
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.7737921{col 26}{space 2} .6351271{col 37}{space 1}   -1.22{col 46}{space 3}0.229{col 54}{space 4}-2.050128{col 67}{space 3} .5025437
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     20.52
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8823
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8800
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1861
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6966

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3702466{col 26}{space 2} .0740859{col 37}{space 1}    5.00{col 46}{space 3}0.000{col 54}{space 4} .2213654{col 67}{space 3} .5191278
{txt}log_S2_L3_sd {c |}{col 14}{res}{space 2}  .032884{col 26}{space 2}  .043525{col 37}{space 1}    0.76{col 46}{space 3}0.454{col 54}{space 4}-.0545828{col 67}{space 3} .1203509
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4819424{col 26}{space 2}  .086442{col 37}{space 1}    5.58{col 46}{space 3}0.000{col 54}{space 4} .3082308{col 67}{space 3} .6556541
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     21.37
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8820
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8797
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1842
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6974

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3721986{col 26}{space 2} .0694444{col 37}{space 1}    5.36{col 46}{space 3}0.000{col 54}{space 4} .2326449{col 67}{space 3} .5117524
{txt}log_S3_L3_sd {c |}{col 14}{res}{space 2} .0004932{col 26}{space 2} .0417409{col 37}{space 1}    0.01{col 46}{space 3}0.991{col 54}{space 4}-.0833884{col 67}{space 3} .0843748
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5568019{col 26}{space 2} .0954237{col 37}{space 1}    5.84{col 46}{space 3}0.000{col 54}{space 4} .3650409{col 67}{space 3}  .748563
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     14.38
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8831
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8808
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1918
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6942

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3652138{col 26}{space 2} .0707789{col 37}{space 1}    5.16{col 46}{space 3}0.000{col 54}{space 4} .2229782{col 67}{space 3} .5074493
{txt}log_S4_L3_sd {c |}{col 14}{res}{space 2} .0692034{col 26}{space 2} .0458823{col 37}{space 1}    1.51{col 46}{space 3}0.138{col 54}{space 4}-.0230005{col 67}{space 3} .1614073
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4946746{col 26}{space 2} .0696979{col 37}{space 1}    7.10{col 46}{space 3}0.000{col 54}{space 4} .3546114{col 67}{space 3} .6347378
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     19.61
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8821
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8798
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1849
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6971

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .373962{col 26}{space 2} .0691451{col 37}{space 1}    5.41{col 46}{space 3}0.000{col 54}{space 4} .2350097{col 67}{space 3} .5129143
{txt}log_S5_L3_sd {c |}{col 14}{res}{space 2}-.0241719{col 26}{space 2}  .078456{col 37}{space 1}   -0.31{col 46}{space 3}0.759{col 54}{space 4}-.1818351{col 67}{space 3} .1334912
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5733974{col 26}{space 2} .0919437{col 37}{space 1}    6.24{col 46}{space 3}0.000{col 54}{space 4} .3886297{col 67}{space 3} .7581652
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     16.87
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8853
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8831
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2072
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6875

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3499837{col 26}{space 2} .0736146{col 37}{space 1}    4.75{col 46}{space 3}0.000{col 54}{space 4} .2020496{col 67}{space 3} .4979177
{txt}log_S6_L3_sd {c |}{col 14}{res}{space 2} .1165287{col 26}{space 2} .0480258{col 37}{space 1}    2.43{col 46}{space 3}0.019{col 54}{space 4} .0200173{col 67}{space 3} .2130401
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .356078{col 26}{space 2} .0964593{col 37}{space 1}    3.69{col 46}{space 3}0.001{col 54}{space 4} .1622358{col 67}{space 3} .5499202
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     14.71
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8844
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8822
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2009
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6902

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3574247{col 26}{space 2} .0722014{col 37}{space 1}    4.95{col 46}{space 3}0.000{col 54}{space 4} .2123306{col 67}{space 3} .5025188
{txt}log_S7_L3_sd {c |}{col 14}{res}{space 2} .1181691{col 26}{space 2} .0569143{col 37}{space 1}    2.08{col 46}{space 3}0.043{col 54}{space 4} .0037956{col 67}{space 3} .2325426
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .314209{col 26}{space 2} .1323883{col 37}{space 1}    2.37{col 46}{space 3}0.022{col 54}{space 4} .0481648{col 67}{space 3} .5802531
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     14.40
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8869
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8847
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2181
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6828

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3344399{col 26}{space 2} .0729568{col 37}{space 1}    4.58{col 46}{space 3}0.000{col 54}{space 4} .1878277{col 67}{space 3} .4810522
{txt}log_S8_L3_sd {c |}{col 14}{res}{space 2} .2641513{col 26}{space 2} .1036815{col 37}{space 1}    2.55{col 46}{space 3}0.014{col 54}{space 4} .0557955{col 67}{space 3} .4725071
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.0495774{col 26}{space 2} .2523981{col 37}{space 1}   -0.20{col 46}{space 3}0.845{col 54}{space 4}-.5567903{col 67}{space 3} .4576355
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.98
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0005
{txt}{col 51}R-squared{col 67}= {res}    0.8906
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8885
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1467
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7230

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3081352{col 26}{space 2} .0787434{col 37}{space 1}    3.91{col 46}{space 3}0.000{col 54}{space 4} .1498945{col 67}{space 3}  .466376
{txt}log_S1_L3_sd {c |}{col 14}{res}{space 2} .1039372{col 26}{space 2} .0596939{col 37}{space 1}    1.74{col 46}{space 3}0.088{col 54}{space 4}-.0160221{col 67}{space 3} .2238965
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.0794522{col 26}{space 2} .4270692{col 37}{space 1}   -0.19{col 46}{space 3}0.853{col 54}{space 4}-.9376799{col 67}{space 3} .7787755
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     14.90
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8902
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8881
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1435
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7243

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3127679{col 26}{space 2} .0784056{col 37}{space 1}    3.99{col 46}{space 3}0.000{col 54}{space 4}  .155206{col 67}{space 3} .4703299
{txt}log_S2_L3_sd {c |}{col 14}{res}{space 2} .0376569{col 26}{space 2} .0395896{col 37}{space 1}    0.95{col 46}{space 3}0.346{col 54}{space 4}-.0419013{col 67}{space 3} .1172151
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5499306{col 26}{space 2} .0874891{col 37}{space 1}    6.29{col 46}{space 3}0.000{col 54}{space 4} .3741148{col 67}{space 3} .7257465
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     16.01
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8899
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8878
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1417
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7251

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3146409{col 26}{space 2} .0768857{col 37}{space 1}    4.09{col 46}{space 3}0.000{col 54}{space 4} .1601334{col 67}{space 3} .4691484
{txt}log_S3_L3_sd {c |}{col 14}{res}{space 2} -.023838{col 26}{space 2} .0353746{col 37}{space 1}   -0.67{col 46}{space 3}0.504{col 54}{space 4}-.0949259{col 67}{space 3}   .04725
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6827495{col 26}{space 2} .1025135{col 37}{space 1}    6.66{col 46}{space 3}0.000{col 54}{space 4} .4767409{col 67}{space 3} .8887581
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.79
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8913
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8893
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1527
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7205

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3121589{col 26}{space 2} .0764704{col 37}{space 1}    4.08{col 46}{space 3}0.000{col 54}{space 4} .1584858{col 67}{space 3} .4658319
{txt}log_S4_L3_sd {c |}{col 14}{res}{space 2} .0855102{col 26}{space 2} .0611989{col 37}{space 1}    1.40{col 46}{space 3}0.169{col 54}{space 4}-.0374736{col 67}{space 3} .2084941
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .552021{col 26}{space 2} .0895699{col 37}{space 1}    6.16{col 46}{space 3}0.000{col 54}{space 4} .3720236{col 67}{space 3} .7320184
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.13
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8898
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8877
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1406
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7256

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3148264{col 26}{space 2}    .0743{col 37}{space 1}    4.24{col 46}{space 3}0.000{col 54}{space 4} .1655149{col 67}{space 3} .4641379
{txt}log_S5_L3_sd {c |}{col 14}{res}{space 2} -.005678{col 26}{space 2}  .061686{col 37}{space 1}   -0.09{col 46}{space 3}0.927{col 54}{space 4}-.1296406{col 67}{space 3} .1182846
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6517803{col 26}{space 2} .0962639{col 37}{space 1}    6.77{col 46}{space 3}0.000{col 54}{space 4} .4583307{col 67}{space 3} .8452299
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.63
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8934
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8914
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1688
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7136

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2913518{col 26}{space 2} .0749592{col 37}{space 1}    3.89{col 46}{space 3}0.000{col 54}{space 4} .1407157{col 67}{space 3}  .441988
{txt}log_S6_L3_sd {c |}{col 14}{res}{space 2} .1196103{col 26}{space 2} .0424397{col 37}{space 1}    2.82{col 46}{space 3}0.007{col 54}{space 4} .0343245{col 67}{space 3} .2048961
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4195552{col 26}{space 2} .1017399{col 37}{space 1}    4.12{col 46}{space 3}0.000{col 54}{space 4} .2151013{col 67}{space 3} .6240091
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.46
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8920
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8900
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1581
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7182

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3034172{col 26}{space 2} .0747502{col 37}{space 1}    4.06{col 46}{space 3}0.000{col 54}{space 4}  .153201{col 67}{space 3} .4536333
{txt}log_S7_L3_sd {c |}{col 14}{res}{space 2} .1121606{col 26}{space 2} .0508239{col 37}{space 1}    2.21{col 46}{space 3}0.032{col 54}{space 4} .0100261{col 67}{space 3} .2142951
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3822604{col 26}{space 2} .1394157{col 37}{space 1}    2.74{col 46}{space 3}0.009{col 54}{space 4}  .102094{col 67}{space 3} .6624267
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.52
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8932
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8911
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1670
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7143

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2878202{col 26}{space 2} .0709325{col 37}{space 1}    4.06{col 46}{space 3}0.000{col 54}{space 4} .1452759{col 67}{space 3} .4303645
{txt}log_S8_L3_sd {c |}{col 14}{res}{space 2}  .198783{col 26}{space 2} .0918517{col 37}{space 1}    2.16{col 46}{space 3}0.035{col 54}{space 4} .0142001{col 67}{space 3} .3833659
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .1426015{col 26}{space 2} .2576517{col 37}{space 1}    0.55{col 46}{space 3}0.582{col 54}{space 4}-.3751689{col 67}{space 3} .6603719
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.19
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8716
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8691
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1651
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7585

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3255702{col 26}{space 2} .0833094{col 37}{space 1}    3.91{col 46}{space 3}0.000{col 54}{space 4} .1581536{col 67}{space 3} .4929867
{txt}log_S1_L3_sd {c |}{col 14}{res}{space 2} .1140587{col 26}{space 2} .0624761{col 37}{space 1}    1.83{col 46}{space 3}0.074{col 54}{space 4}-.0114918{col 67}{space 3} .2396092
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.1716262{col 26}{space 2} .4317143{col 37}{space 1}   -0.40{col 46}{space 3}0.693{col 54}{space 4}-1.039189{col 67}{space 3} .6959361
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     15.79
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8708
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8683
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1600
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7608

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3367994{col 26}{space 2} .0833169{col 37}{space 1}    4.04{col 46}{space 3}0.000{col 54}{space 4} .1693679{col 67}{space 3}  .504231
{txt}log_S2_L3_sd {c |}{col 14}{res}{space 2} .0359236{col 26}{space 2} .0485834{col 37}{space 1}    0.74{col 46}{space 3}0.463{col 54}{space 4}-.0617084{col 67}{space 3} .1335556
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5037979{col 26}{space 2} .1014195{col 37}{space 1}    4.97{col 46}{space 3}0.000{col 54}{space 4} .2999878{col 67}{space 3}  .707608
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     15.32
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8705
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8680
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1578
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7618

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3364222{col 26}{space 2}  .082869{col 37}{space 1}    4.06{col 46}{space 3}0.000{col 54}{space 4} .1698907{col 67}{space 3} .5029537
{txt}log_S3_L3_sd {c |}{col 14}{res}{space 2}-.0040558{col 26}{space 2} .0408747{col 37}{space 1}   -0.10{col 46}{space 3}0.921{col 54}{space 4}-.0861965{col 67}{space 3}  .078085
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6027406{col 26}{space 2}  .112909{col 37}{space 1}    5.34{col 46}{space 3}0.000{col 54}{space 4} .3758415{col 67}{space 3} .8296397
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.64
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8727
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8702
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1722
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7552

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3317904{col 26}{space 2} .0843809{col 37}{space 1}    3.93{col 46}{space 3}0.000{col 54}{space 4} .1622206{col 67}{space 3} .5013602
{txt}log_S4_L3_sd {c |}{col 14}{res}{space 2} .0981426{col 26}{space 2} .0585505{col 37}{space 1}    1.68{col 46}{space 3}0.100{col 54}{space 4} -.019519{col 67}{space 3} .2158041
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4932973{col 26}{space 2} .0793172{col 37}{space 1}    6.22{col 46}{space 3}0.000{col 54}{space 4} .3339034{col 67}{space 3} .6526912
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.42
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8705
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8680
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1579
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7617

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3370541{col 26}{space 2} .0809371{col 37}{space 1}    4.16{col 46}{space 3}0.000{col 54}{space 4}  .174405{col 67}{space 3} .4997033
{txt}log_S5_L3_sd {c |}{col 14}{res}{space 2} -.008809{col 26}{space 2} .0651146{col 37}{space 1}   -0.14{col 46}{space 3}0.893{col 54}{space 4}-.1396617{col 67}{space 3} .1220437
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6035998{col 26}{space 2} .0971004{col 37}{space 1}    6.22{col 46}{space 3}0.000{col 54}{space 4} .4084692{col 67}{space 3} .7987305
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.98
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8760
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8736
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1936
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7454

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3108311{col 26}{space 2} .0797759{col 37}{space 1}    3.90{col 46}{space 3}0.000{col 54}{space 4} .1505155{col 67}{space 3} .4711467
{txt}log_S6_L3_sd {c |}{col 14}{res}{space 2} .1456236{col 26}{space 2} .0507894{col 37}{space 1}    2.87{col 46}{space 3}0.006{col 54}{space 4} .0435585{col 67}{space 3} .2476887
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3308428{col 26}{space 2} .1166379{col 37}{space 1}    2.84{col 46}{space 3}0.007{col 54}{space 4} .0964503{col 67}{space 3} .5652354
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.81
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8731
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8707
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1752
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7539

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3212187{col 26}{space 2} .0803167{col 37}{space 1}    4.00{col 46}{space 3}0.000{col 54}{space 4} .1598162{col 67}{space 3} .4826212
{txt}log_S7_L3_sd {c |}{col 14}{res}{space 2} .1156526{col 26}{space 2} .0520488{col 37}{space 1}    2.22{col 46}{space 3}0.031{col 54}{space 4} .0110566{col 67}{space 3} .2202486
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3365831{col 26}{space 2} .1423777{col 37}{space 1}    2.36{col 46}{space 3}0.022{col 54}{space 4} .0504644{col 67}{space 3} .6227018
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.15
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8766
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8743
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1981
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7433

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3010945{col 26}{space 2} .0767944{col 37}{space 1}    3.92{col 46}{space 3}0.000{col 54}{space 4} .1467705{col 67}{space 3} .4554186
{txt}log_S8_L3_sd {c |}{col 14}{res}{space 2}  .242253{col 26}{space 2} .0856431{col 37}{space 1}    2.83{col 46}{space 3}0.007{col 54}{space 4} .0701468{col 67}{space 3} .4143592
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .0001511{col 26}{space 2} .2318703{col 37}{space 1}    0.00{col 46}{space 3}0.999{col 54}{space 4}-.4658096{col 67}{space 3} .4661119
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.17
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0019
{txt}{col 51}R-squared{col 67}= {res}    0.8817
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8794
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1322
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6830

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3143249{col 26}{space 2} .0830247{col 37}{space 1}    3.79{col 46}{space 3}0.000{col 54}{space 4} .1474806{col 67}{space 3} .4811692
{txt}log_S1_L3_sd {c |}{col 14}{res}{space 2} .0692841{col 26}{space 2} .0548507{col 37}{space 1}    1.26{col 46}{space 3}0.213{col 54}{space 4}-.0409425{col 67}{space 3} .1795107
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .1175664{col 26}{space 2} .3878134{col 37}{space 1}    0.30{col 46}{space 3}0.763{col 54}{space 4}-.6617737{col 67}{space 3} .8969065
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.30
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8815
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8792
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1307
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6835

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3154464{col 26}{space 2} .0865197{col 37}{space 1}    3.65{col 46}{space 3}0.001{col 54}{space 4} .1415784{col 67}{space 3} .4893143
{txt}log_S2_L3_sd {c |}{col 14}{res}{space 2} .0290238{col 26}{space 2} .0420052{col 37}{space 1}    0.69{col 46}{space 3}0.493{col 54}{space 4}-.0553887{col 67}{space 3} .1134364
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .505707{col 26}{space 2} .0843675{col 37}{space 1}    5.99{col 46}{space 3}0.000{col 54}{space 4}  .336164{col 67}{space 3} .6752499
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.12
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0009
{txt}{col 51}R-squared{col 67}= {res}    0.8813
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8790
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1290
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6842

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3181359{col 26}{space 2} .0827585{col 37}{space 1}    3.84{col 46}{space 3}0.000{col 54}{space 4} .1518265{col 67}{space 3} .4844452
{txt}log_S3_L3_sd {c |}{col 14}{res}{space 2}-.0051741{col 26}{space 2} .0254735{col 37}{space 1}   -0.20{col 46}{space 3}0.840{col 54}{space 4}-.0563651{col 67}{space 3} .0460168
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5817357{col 26}{space 2} .0751995{col 37}{space 1}    7.74{col 46}{space 3}0.000{col 54}{space 4} .4306166{col 67}{space 3} .7328548
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.82
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8837
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8815
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1469
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6771

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .314306{col 26}{space 2} .0874073{col 37}{space 1}    3.60{col 46}{space 3}0.001{col 54}{space 4} .1386544{col 67}{space 3} .4899575
{txt}log_S4_L3_sd {c |}{col 14}{res}{space 2} .0989366{col 26}{space 2}  .059191{col 37}{space 1}    1.67{col 46}{space 3}0.101{col 54}{space 4}-.0200122{col 67}{space 3} .2178854
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}   .47702{col 26}{space 2}  .064973{col 37}{space 1}    7.34{col 46}{space 3}0.000{col 54}{space 4} .3464519{col 67}{space 3} .6075881
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.74
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0012
{txt}{col 51}R-squared{col 67}= {res}    0.8813
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8790
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1291
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6842

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3183861{col 26}{space 2}  .082618{col 37}{space 1}    3.85{col 46}{space 3}0.000{col 54}{space 4}  .152359{col 67}{space 3} .4844132
{txt}log_S5_L3_sd {c |}{col 14}{res}{space 2}-.0118252{col 26}{space 2} .0452526{col 37}{space 1}   -0.26{col 46}{space 3}0.795{col 54}{space 4}-.1027638{col 67}{space 3} .0791133
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5836201{col 26}{space 2} .0720093{col 37}{space 1}    8.10{col 46}{space 3}0.000{col 54}{space 4}  .438912{col 67}{space 3} .7283283
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.17
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8856
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8834
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1608
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6716

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2929565{col 26}{space 2} .0785457{col 37}{space 1}    3.73{col 46}{space 3}0.000{col 54}{space 4} .1351131{col 67}{space 3} .4507999
{txt}log_S6_L3_sd {c |}{col 14}{res}{space 2} .1283296{col 26}{space 2} .0482153{col 37}{space 1}    2.66{col 46}{space 3}0.010{col 54}{space 4} .0314373{col 67}{space 3} .2252218
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .354405{col 26}{space 2} .1021978{col 37}{space 1}    3.47{col 46}{space 3}0.001{col 54}{space 4} .1490309{col 67}{space 3} .5597791
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.36
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0008
{txt}{col 51}R-squared{col 67}= {res}    0.8827
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8805
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1396
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6800

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3048709{col 26}{space 2} .0795457{col 37}{space 1}    3.83{col 46}{space 3}0.000{col 54}{space 4} .1450178{col 67}{space 3}  .464724
{txt}log_S7_L3_sd {c |}{col 14}{res}{space 2} .0834971{col 26}{space 2} .0389066{col 37}{space 1}    2.15{col 46}{space 3}0.037{col 54}{space 4} .0053114{col 67}{space 3} .1616828
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3983847{col 26}{space 2} .1119386{col 37}{space 1}    3.56{col 46}{space 3}0.001{col 54}{space 4} .1734357{col 67}{space 3} .6233336
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.75
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8886
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8865
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1829
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6627

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2752483{col 26}{space 2} .0733732{col 37}{space 1}    3.75{col 46}{space 3}0.000{col 54}{space 4} .1277995{col 67}{space 3} .4226972
{txt}log_S8_L3_sd {c |}{col 14}{res}{space 2} .2567007{col 26}{space 2} .0827872{col 37}{space 1}    3.10{col 46}{space 3}0.003{col 54}{space 4} .0903337{col 67}{space 3} .4230678
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.0338198{col 26}{space 2} .2128296{col 37}{space 1}   -0.16{col 46}{space 3}0.874{col 54}{space 4}-.4615168{col 67}{space 3} .3938773
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      4.03
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0240
{txt}{col 51}R-squared{col 67}= {res}    0.9139
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9122
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0992
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6481

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2217408{col 26}{space 2} .0920851{col 37}{space 1}    2.41{col 46}{space 3}0.020{col 54}{space 4} .0366889{col 67}{space 3} .4067927
{txt}log_S1_L3_sd {c |}{col 14}{res}{space 2} .0909769{col 26}{space 2} .0602632{col 37}{space 1}    1.51{col 46}{space 3}0.138{col 54}{space 4}-.0301266{col 67}{space 3} .2120804
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .1092766{col 26}{space 2} .4353711{col 37}{space 1}    0.25{col 46}{space 3}0.803{col 54}{space 4}-.7656343{col 67}{space 3} .9841875
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.18
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0018
{txt}{col 51}R-squared{col 67}= {res}    0.9135
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9118
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0950
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6496

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2277102{col 26}{space 2} .0923479{col 37}{space 1}    2.47{col 46}{space 3}0.017{col 54}{space 4} .0421302{col 67}{space 3} .4132902
{txt}log_S2_L3_sd {c |}{col 14}{res}{space 2} .0264622{col 26}{space 2} .0285209{col 37}{space 1}    0.93{col 46}{space 3}0.358{col 54}{space 4}-.0308527{col 67}{space 3} .0837772
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6809326{col 26}{space 2} .0701213{col 37}{space 1}    9.71{col 46}{space 3}0.000{col 54}{space 4} .5400186{col 67}{space 3} .8218466
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.43
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.9134
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9118
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0948
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6497

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2280153{col 26}{space 2} .0913799{col 37}{space 1}    2.50{col 46}{space 3}0.016{col 54}{space 4} .0443806{col 67}{space 3}   .41165
{txt}log_S3_L3_sd {c |}{col 14}{res}{space 2}-.0246482{col 26}{space 2} .0272937{col 37}{space 1}   -0.90{col 46}{space 3}0.371{col 54}{space 4}-.0794968{col 67}{space 3} .0302005
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7879638{col 26}{space 2} .1085666{col 37}{space 1}    7.26{col 46}{space 3}0.000{col 54}{space 4} .5697911{col 67}{space 3} 1.006137
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.28
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0008
{txt}{col 51}R-squared{col 67}= {res}    0.9143
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9126
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1035
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6466

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2272948{col 26}{space 2} .0939384{col 37}{space 1}    2.42{col 46}{space 3}0.019{col 54}{space 4} .0385185{col 67}{space 3} .4160712
{txt}log_S4_L3_sd {c |}{col 14}{res}{space 2} .0694157{col 26}{space 2} .0349999{col 37}{space 1}    1.98{col 46}{space 3}0.053{col 54}{space 4}-.0009192{col 67}{space 3} .1397506
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6729799{col 26}{space 2} .0716942{col 37}{space 1}    9.39{col 46}{space 3}0.000{col 54}{space 4} .5289049{col 67}{space 3} .8170548
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.05
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0020
{txt}{col 51}R-squared{col 67}= {res}    0.9139
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9122
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0992
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6481

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}   .22847{col 26}{space 2} .0896725{col 37}{space 1}    2.55{col 46}{space 3}0.014{col 54}{space 4} .0482664{col 67}{space 3} .4086737
{txt}log_S5_L3_sd {c |}{col 14}{res}{space 2}-.0595534{col 26}{space 2} .0567913{col 37}{space 1}   -1.05{col 46}{space 3}0.299{col 54}{space 4}-.1736798{col 67}{space 3} .0545729
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .8002789{col 26}{space 2} .1073873{col 37}{space 1}    7.45{col 46}{space 3}0.000{col 54}{space 4}  .584476{col 67}{space 3} 1.016082
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      4.65
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0141
{txt}{col 51}R-squared{col 67}= {res}    0.9148
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9132
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1090
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6446

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2157711{col 26}{space 2} .0898415{col 37}{space 1}    2.40{col 46}{space 3}0.020{col 54}{space 4} .0352279{col 67}{space 3} .3963142
{txt}log_S6_L3_sd {c |}{col 14}{res}{space 2} .0806427{col 26}{space 2} .0337152{col 37}{space 1}    2.39{col 46}{space 3}0.021{col 54}{space 4} .0128895{col 67}{space 3} .1483959
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5940675{col 26}{space 2} .1136726{col 37}{space 1}    5.23{col 46}{space 3}0.000{col 54}{space 4} .3656338{col 67}{space 3} .8225012
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.89
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0270
{txt}{col 51}R-squared{col 67}= {res}    0.9137
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9121
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0980
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6486

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2230628{col 26}{space 2} .0913785{col 37}{space 1}    2.44{col 46}{space 3}0.018{col 54}{space 4} .0394308{col 67}{space 3} .4066948
{txt}log_S7_L3_sd {c |}{col 14}{res}{space 2} .0533267{col 26}{space 2} .0359757{col 37}{space 1}    1.48{col 46}{space 3}0.145{col 54}{space 4}-.0189691{col 67}{space 3} .1256225
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .623355{col 26}{space 2} .1200191{col 37}{space 1}    5.19{col 46}{space 3}0.000{col 54}{space 4} .3821675{col 67}{space 3} .8645424
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      6.40
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0034
{txt}{col 51}R-squared{col 67}= {res}    0.9154
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9138
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1156
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6422

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2123975{col 26}{space 2} .0885689{col 37}{space 1}    2.40{col 46}{space 3}0.020{col 54}{space 4} .0344115{col 67}{space 3} .3903834
{txt}log_S8_L3_sd {c |}{col 14}{res}{space 2} .1642128{col 26}{space 2} .0599149{col 37}{space 1}    2.74{col 46}{space 3}0.009{col 54}{space 4} .0438094{col 67}{space 3} .2846162
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3269575{col 26}{space 2} .1780483{col 37}{space 1}    1.84{col 46}{space 3}0.072{col 54}{space 4}-.0308438{col 67}{space 3} .6847589
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)

{com}. 
.         ** Calculate rmse **
.         
. forvalues q = 1(1)8 {c -(} 
{txt}  2{com}.         gen rmse_S`q'_log = . 
{txt}  3{com}.         egen aux_rmse_`q' = sum(v_e_`q'^2) if v_e_`q' != .  // empty vector rmse
{txt}  4{com}.         replace rmse_S`q'_log = (aux_rmse_`q'/4200)^0.5 
{txt}  5{com}.         
.         replace v_e_`q' = . 
{txt}  6{com}. {c )-}
{txt}(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)

{com}. 
. quietly drop aux_rmse_* err_S*
{txt}
{com}. 
.         ************************ compare rmse *****************************
. sum rmse_S*

{txt}    Variable {c |}        Obs        Mean    Std. dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 1}rmse_S1_log {c |}{res}      4,200    1.726167           0   1.726167   1.726167
{txt}{space 1}rmse_S2_log {c |}{res}      4,200    1.638036           0   1.638036   1.638036
{txt}{space 1}rmse_S3_log {c |}{res}      4,200    1.646324           0   1.646324   1.646324
{txt}{space 1}rmse_S4_log {c |}{res}      4,200     1.60211           0    1.60211    1.60211
{txt}{space 1}rmse_S5_log {c |}{res}      4,200    1.646199           0   1.646199   1.646199
{txt}{hline 13}{c +}{hline 57}
{space 1}rmse_S6_log {c |}{res}      4,200    1.491918           0   1.491918   1.491918
{txt}{space 1}rmse_S7_log {c |}{res}      4,200    1.516456           0   1.516456   1.516456
{txt}{space 1}rmse_S8_log {c |}{res}      4,200    1.507947           0   1.507947   1.507947
{txt}
{com}. 
. 
. 
.     ** Results for ihs transformed data **
.         
.         
. forvalues i = 1(1)7 {c -(}   // loop over countries 
{txt}  2{com}.         forvalues q = 1(1)8 {c -(} // loop over directions 
{txt}  3{com}.         
.                 reghdfe  ihs_csd    ihs_L3_sd   ihs_S`q'_L3_sd                                                          if cell <= 50 & year == 2014 & ccode != `i', absorb(cell ccode month) vce(cluster cell) //  excl. country i
{txt}  4{com}.                 estimates store ihs_S`q'
{txt}  5{com}.                 predict ihs_S`q'_`i', xb
{txt}  6{com}.                 gen err_S`q'_`i' =  ihs_csd - ihs_S`q'_`i'                                                                              if cell <= 50 & year == 2014  // note: residuals option in reghdfe is faster, but does not predict out-of-sample 
{txt}  7{com}.                 replace v_e_`q' = err_S`q'_`i' if ccode == `i' // copy to empty vector 
{txt}  8{com}.                 /* check predictions 
>                 sum err_S`q'_`i' if ccode == 1 // 600
>                 sum err_S`q'_`i' // 4,200 
>                 */ 
.         {c )-}
{txt}  9{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.35
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8815
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8792
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1548
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8224

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3017276{col 26}{space 2} .0755109{col 37}{space 1}    4.00{col 46}{space 3}0.000{col 54}{space 4} .1499828{col 67}{space 3} .4534724
{txt}ihs_S1_L3_sd {c |}{col 14}{res}{space 2} .1880456{col 26}{space 2} .0972042{col 37}{space 1}    1.93{col 46}{space 3}0.059{col 54}{space 4}-.0072937{col 67}{space 3} .3833848
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.6495515{col 26}{space 2} .7246969{col 37}{space 1}   -0.90{col 46}{space 3}0.374{col 54}{space 4}-2.105884{col 67}{space 3} .8067815
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     15.16
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8799
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8775
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1432
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8280

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3184943{col 26}{space 2} .0778449{col 37}{space 1}    4.09{col 46}{space 3}0.000{col 54}{space 4} .1620591{col 67}{space 3} .4749294
{txt}ihs_S2_L3_sd {c |}{col 14}{res}{space 2} .0315455{col 26}{space 2} .0518335{col 37}{space 1}    0.61{col 46}{space 3}0.546{col 54}{space 4}-.0726179{col 67}{space 3} .1357089
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6344862{col 26}{space 2} .1190294{col 37}{space 1}    5.33{col 46}{space 3}0.000{col 54}{space 4} .3952877{col 67}{space 3} .8736848
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.24
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8796
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8773
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1415
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8289

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3194059{col 26}{space 2} .0760278{col 37}{space 1}    4.20{col 46}{space 3}0.000{col 54}{space 4} .1666223{col 67}{space 3} .4721895
{txt}ihs_S3_L3_sd {c |}{col 14}{res}{space 2}-.0057173{col 26}{space 2} .0380856{col 37}{space 1}   -0.15{col 46}{space 3}0.881{col 54}{space 4}-.0822532{col 67}{space 3} .0708186
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7311984{col 26}{space 2} .1084414{col 37}{space 1}    6.74{col 46}{space 3}0.000{col 54}{space 4} .5132772{col 67}{space 3} .9491195
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.57
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8807
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8784
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1489
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8253

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3163273{col 26}{space 2}  .077623{col 37}{space 1}    4.08{col 46}{space 3}0.000{col 54}{space 4} .1603381{col 67}{space 3} .4723165
{txt}ihs_S4_L3_sd {c |}{col 14}{res}{space 2} .0685096{col 26}{space 2} .0605279{col 37}{space 1}    1.13{col 46}{space 3}0.263{col 54}{space 4}-.0531257{col 67}{space 3}  .190145
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6394981{col 26}{space 2} .0957391{col 37}{space 1}    6.68{col 46}{space 3}0.000{col 54}{space 4} .4471032{col 67}{space 3} .8318929
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.20
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8797
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8773
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1419
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8287

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3181934{col 26}{space 2} .0755316{col 37}{space 1}    4.21{col 46}{space 3}0.000{col 54}{space 4} .1664069{col 67}{space 3} .4699798
{txt}ihs_S5_L3_sd {c |}{col 14}{res}{space 2} .0199317{col 26}{space 2} .0733869{col 37}{space 1}    0.27{col 46}{space 3}0.787{col 54}{space 4}-.1275448{col 67}{space 3} .1674082
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .704915{col 26}{space 2} .1052232{col 37}{space 1}    6.70{col 46}{space 3}0.000{col 54}{space 4}  .493461{col 67}{space 3} .9163689
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.85
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8842
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8820
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1744
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8128

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .296404{col 26}{space 2} .0732391{col 37}{space 1}    4.05{col 46}{space 3}0.000{col 54}{space 4} .1492245{col 67}{space 3} .4435835
{txt}ihs_S6_L3_sd {c |}{col 14}{res}{space 2} .1368438{col 26}{space 2} .0472628{col 37}{space 1}    2.90{col 46}{space 3}0.006{col 54}{space 4} .0418656{col 67}{space 3}  .231822
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4396466{col 26}{space 2} .1205217{col 37}{space 1}    3.65{col 46}{space 3}0.001{col 54}{space 4} .1974492{col 67}{space 3} .6818441
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.77
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8820
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8797
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1587
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8205

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3062516{col 26}{space 2} .0741398{col 37}{space 1}    4.13{col 46}{space 3}0.000{col 54}{space 4} .1572622{col 67}{space 3}  .455241
{txt}ihs_S7_L3_sd {c |}{col 14}{res}{space 2} .1189481{col 26}{space 2}    .0537{col 37}{space 1}    2.22{col 46}{space 3}0.031{col 54}{space 4} .0110339{col 67}{space 3} .2268622
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4185277{col 26}{space 2} .1577771{col 37}{space 1}    2.65{col 46}{space 3}0.011{col 54}{space 4} .1014627{col 67}{space 3} .7355926
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.77
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8845
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8822
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1760
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8120

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2861748{col 26}{space 2} .0706348{col 37}{space 1}    4.05{col 46}{space 3}0.000{col 54}{space 4} .1442289{col 67}{space 3} .4281208
{txt}ihs_S8_L3_sd {c |}{col 14}{res}{space 2} .2286108{col 26}{space 2} .0834393{col 37}{space 1}    2.74{col 46}{space 3}0.009{col 54}{space 4} .0609333{col 67}{space 3} .3962882
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .1048421{col 26}{space 2} .2449097{col 37}{space 1}    0.43{col 46}{space 3}0.670{col 54}{space 4}-.3873224{col 67}{space 3} .5970066
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.68
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0013
{txt}{col 51}R-squared{col 67}= {res}    0.8832
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8810
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1668
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7921

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3274612{col 26}{space 2} .1032876{col 37}{space 1}    3.17{col 46}{space 3}0.003{col 54}{space 4}  .119897{col 67}{space 3} .5350255
{txt}ihs_S1_L3_sd {c |}{col 14}{res}{space 2} .1106189{col 26}{space 2} .0637807{col 37}{space 1}    1.73{col 46}{space 3}0.089{col 54}{space 4}-.0175532{col 67}{space 3} .2387911
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.1528925{col 26}{space 2} .4604562{col 37}{space 1}   -0.33{col 46}{space 3}0.741{col 54}{space 4}-1.078214{col 67}{space 3} .7724287
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      6.53
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0031
{txt}{col 51}R-squared{col 67}= {res}    0.8823
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8800
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1597
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7954

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3375366{col 26}{space 2} .1021011{col 37}{space 1}    3.31{col 46}{space 3}0.002{col 54}{space 4} .1323567{col 67}{space 3} .5427165
{txt}ihs_S2_L3_sd {c |}{col 14}{res}{space 2}-.0033746{col 26}{space 2} .0540144{col 37}{space 1}   -0.06{col 46}{space 3}0.950{col 54}{space 4}-.1119206{col 67}{space 3} .1051714
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6583329{col 26}{space 2} .1405369{col 37}{space 1}    4.68{col 46}{space 3}0.000{col 54}{space 4} .3759135{col 67}{space 3} .9407523
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.64
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8823
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8801
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1604
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7951

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3376561{col 26}{space 2} .1025652{col 37}{space 1}    3.29{col 46}{space 3}0.002{col 54}{space 4} .1315435{col 67}{space 3} .5437686
{txt}ihs_S3_L3_sd {c |}{col 14}{res}{space 2}-.0179048{col 26}{space 2} .0328993{col 37}{space 1}   -0.54{col 46}{space 3}0.589{col 54}{space 4}-.0840185{col 67}{space 3} .0482089
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6772215{col 26}{space 2} .1252826{col 37}{space 1}    5.41{col 46}{space 3}0.000{col 54}{space 4} .4254567{col 67}{space 3} .9289862
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.11
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0019
{txt}{col 51}R-squared{col 67}= {res}    0.8836
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8814
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1696
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7908

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3331834{col 26}{space 2} .1027318{col 37}{space 1}    3.24{col 46}{space 3}0.002{col 54}{space 4} .1267361{col 67}{space 3} .5396308
{txt}ihs_S4_L3_sd {c |}{col 14}{res}{space 2} .0742099{col 26}{space 2} .0471586{col 37}{space 1}    1.57{col 46}{space 3}0.122{col 54}{space 4}-.0205589{col 67}{space 3} .1689786
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5615125{col 26}{space 2} .0987059{col 37}{space 1}    5.69{col 46}{space 3}0.000{col 54}{space 4} .3631556{col 67}{space 3} .7598694
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.64
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8823
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8800
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1598
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7954

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3377461{col 26}{space 2} .1018217{col 37}{space 1}    3.32{col 46}{space 3}0.002{col 54}{space 4} .1331277{col 67}{space 3} .5423645
{txt}ihs_S5_L3_sd {c |}{col 14}{res}{space 2}-.0077766{col 26}{space 2} .0695145{col 37}{space 1}   -0.11{col 46}{space 3}0.911{col 54}{space 4}-.1474711{col 67}{space 3} .1319179
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6555709{col 26}{space 2} .1340344{col 37}{space 1}    4.89{col 46}{space 3}0.000{col 54}{space 4} .3862188{col 67}{space 3}  .924923
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.13
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0009
{txt}{col 51}R-squared{col 67}= {res}    0.8842
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8820
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1738
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7887

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3248555{col 26}{space 2} .1003249{col 37}{space 1}    3.24{col 46}{space 3}0.002{col 54}{space 4} .1232451{col 67}{space 3} .5264659
{txt}ihs_S6_L3_sd {c |}{col 14}{res}{space 2} .0850272{col 26}{space 2}   .03635{col 37}{space 1}    2.34{col 46}{space 3}0.023{col 54}{space 4} .0119791{col 67}{space 3} .1580753
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4763615{col 26}{space 2}  .113872{col 37}{space 1}    4.18{col 46}{space 3}0.000{col 54}{space 4} .2475272{col 67}{space 3} .7051958
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      6.18
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0041
{txt}{col 51}R-squared{col 67}= {res}    0.8830
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8808
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1653
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7928

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3310098{col 26}{space 2} .1018299{col 37}{space 1}    3.25{col 46}{space 3}0.002{col 54}{space 4} .1263749{col 67}{space 3} .5356447
{txt}ihs_S7_L3_sd {c |}{col 14}{res}{space 2} .0639516{col 26}{space 2} .0419457{col 37}{space 1}    1.52{col 46}{space 3}0.134{col 54}{space 4}-.0203414{col 67}{space 3} .1482447
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4893072{col 26}{space 2} .1417949{col 37}{space 1}    3.45{col 46}{space 3}0.001{col 54}{space 4} .2043597{col 67}{space 3} .7742548
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      6.70
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0027
{txt}{col 51}R-squared{col 67}= {res}    0.8855
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8833
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1831
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7843

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3151229{col 26}{space 2} .0972252{col 37}{space 1}    3.24{col 46}{space 3}0.002{col 54}{space 4} .1197415{col 67}{space 3} .5105043
{txt}ihs_S8_L3_sd {c |}{col 14}{res}{space 2} .1830728{col 26}{space 2} .0846945{col 37}{space 1}    2.16{col 46}{space 3}0.036{col 54}{space 4} .0128728{col 67}{space 3} .3532728
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .1580379{col 26}{space 2} .2606629{col 37}{space 1}    0.61{col 46}{space 3}0.547{col 54}{space 4}-.3657839{col 67}{space 3} .6818596
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     14.93
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8847
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8824
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1866
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7697

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3257886{col 26}{space 2} .0715098{col 37}{space 1}    4.56{col 46}{space 3}0.000{col 54}{space 4} .1820842{col 67}{space 3} .4694929
{txt}ihs_S1_L3_sd {c |}{col 14}{res}{space 2}  .203395{col 26}{space 2} .0983598{col 37}{space 1}    2.07{col 46}{space 3}0.044{col 54}{space 4} .0057335{col 67}{space 3} .4010564
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.7953712{col 26}{space 2} .6992346{col 37}{space 1}   -1.14{col 46}{space 3}0.261{col 54}{space 4}-2.200536{col 67}{space 3} .6097933
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     17.92
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8819
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8796
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1672
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7788

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3521928{col 26}{space 2}   .07231{col 37}{space 1}    4.87{col 46}{space 3}0.000{col 54}{space 4} .2068804{col 67}{space 3} .4975051
{txt}ihs_S2_L3_sd {c |}{col 14}{res}{space 2} .0227058{col 26}{space 2} .0420924{col 37}{space 1}    0.54{col 46}{space 3}0.592{col 54}{space 4} -.061882{col 67}{space 3} .1072937
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5858148{col 26}{space 2} .0986162{col 37}{space 1}    5.94{col 46}{space 3}0.000{col 54}{space 4} .3876381{col 67}{space 3} .7839915
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     17.79
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8818
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8795
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1664
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7792

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .352856{col 26}{space 2} .0686514{col 37}{space 1}    5.14{col 46}{space 3}0.000{col 54}{space 4} .2148958{col 67}{space 3} .4908161
{txt}ihs_S3_L3_sd {c |}{col 14}{res}{space 2} .0043943{col 26}{space 2} .0410783{col 37}{space 1}    0.11{col 46}{space 3}0.915{col 54}{space 4}-.0781555{col 67}{space 3} .0869442
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6399922{col 26}{space 2}  .107096{col 37}{space 1}    5.98{col 46}{space 3}0.000{col 54}{space 4} .4247748{col 67}{space 3} .8552096
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.91
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8826
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8803
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1719
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7767

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3479668{col 26}{space 2} .0693692{col 37}{space 1}    5.02{col 46}{space 3}0.000{col 54}{space 4} .2085641{col 67}{space 3} .4873695
{txt}ihs_S4_L3_sd {c |}{col 14}{res}{space 2} .0581067{col 26}{space 2} .0421464{col 37}{space 1}    1.38{col 46}{space 3}0.174{col 54}{space 4}-.0265898{col 67}{space 3} .1428031
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5837315{col 26}{space 2} .0807488{col 37}{space 1}    7.23{col 46}{space 3}0.000{col 54}{space 4} .4214607{col 67}{space 3} .7460024
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     22.23
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8819
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8797
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1673
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7788

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3550588{col 26}{space 2}  .067672{col 37}{space 1}    5.25{col 46}{space 3}0.000{col 54}{space 4} .2190669{col 67}{space 3} .4910507
{txt}ihs_S5_L3_sd {c |}{col 14}{res}{space 2}-.0283741{col 26}{space 2} .0750888{col 37}{space 1}   -0.38{col 46}{space 3}0.707{col 54}{space 4}-.1792707{col 67}{space 3} .1225225
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6688697{col 26}{space 2} .1070512{col 37}{space 1}    6.25{col 46}{space 3}0.000{col 54}{space 4} .4537424{col 67}{space 3}  .883997
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     15.98
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8843
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8821
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1842
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7709

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3371357{col 26}{space 2} .0723833{col 37}{space 1}    4.66{col 46}{space 3}0.000{col 54}{space 4}  .191676{col 67}{space 3} .4825955
{txt}ihs_S6_L3_sd {c |}{col 14}{res}{space 2} .1013907{col 26}{space 2} .0432176{col 37}{space 1}    2.35{col 46}{space 3}0.023{col 54}{space 4} .0145416{col 67}{space 3} .1882397
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4418911{col 26}{space 2} .1022747{col 37}{space 1}    4.32{col 46}{space 3}0.000{col 54}{space 4} .2363624{col 67}{space 3} .6474197
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.71
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8836
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8813
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1788
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7734

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3431469{col 26}{space 2} .0710023{col 37}{space 1}    4.83{col 46}{space 3}0.000{col 54}{space 4} .2004625{col 67}{space 3} .4858314
{txt}ihs_S7_L3_sd {c |}{col 14}{res}{space 2} .1033037{col 26}{space 2}  .052596{col 37}{space 1}    1.96{col 46}{space 3}0.055{col 54}{space 4}-.0023919{col 67}{space 3} .2089994
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4017597{col 26}{space 2} .1418348{col 37}{space 1}    2.83{col 46}{space 3}0.007{col 54}{space 4} .1167321{col 67}{space 3} .6867873
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     14.02
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8860
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8838
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1960
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7653

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3220824{col 26}{space 2} .0721059{col 37}{space 1}    4.47{col 46}{space 3}0.000{col 54}{space 4} .1771802{col 67}{space 3} .4669846
{txt}ihs_S8_L3_sd {c |}{col 14}{res}{space 2} .2520196{col 26}{space 2} .0988431{col 37}{space 1}    2.55{col 46}{space 3}0.014{col 54}{space 4}  .053387{col 67}{space 3} .4506522
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .0011446{col 26}{space 2} .2666747{col 37}{space 1}    0.00{col 46}{space 3}0.997{col 54}{space 4}-.5347582{col 67}{space 3} .5370474
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.18
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0009
{txt}{col 51}R-squared{col 67}= {res}    0.8900
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8879
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1323
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8041

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2924769{col 26}{space 2} .0802915{col 37}{space 1}    3.64{col 46}{space 3}0.001{col 54}{space 4} .1311252{col 67}{space 3} .4538287
{txt}ihs_S1_L3_sd {c |}{col 14}{res}{space 2} .1067948{col 26}{space 2} .0603083{col 37}{space 1}    1.77{col 46}{space 3}0.083{col 54}{space 4}-.0143993{col 67}{space 3}  .227989
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.0717993{col 26}{space 2} .4685585{col 37}{space 1}   -0.15{col 46}{space 3}0.879{col 54}{space 4}-1.013403{col 67}{space 3} .8698044
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.51
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8894
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8873
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1279
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8061

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2980084{col 26}{space 2} .0798794{col 37}{space 1}    3.73{col 46}{space 3}0.000{col 54}{space 4} .1374847{col 67}{space 3} .4585321
{txt}ihs_S2_L3_sd {c |}{col 14}{res}{space 2}  .027924{col 26}{space 2} .0385551{col 37}{space 1}    0.72{col 46}{space 3}0.472{col 54}{space 4}-.0495555{col 67}{space 3} .1054034
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6580226{col 26}{space 2} .1015003{col 37}{space 1}    6.48{col 46}{space 3}0.000{col 54}{space 4} .4540501{col 67}{space 3}  .861995
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.26
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8893
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8872
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1271
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8065

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2991999{col 26}{space 2} .0787895{col 37}{space 1}    3.80{col 46}{space 3}0.000{col 54}{space 4} .1408665{col 67}{space 3} .4575334
{txt}ihs_S3_L3_sd {c |}{col 14}{res}{space 2}-.0198214{col 26}{space 2} .0336317{col 37}{space 1}   -0.59{col 46}{space 3}0.558{col 54}{space 4}-.0874068{col 67}{space 3}  .047764
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7754663{col 26}{space 2} .1157854{col 37}{space 1}    6.70{col 46}{space 3}0.000{col 54}{space 4} .5427867{col 67}{space 3} 1.008146
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.86
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0011
{txt}{col 51}R-squared{col 67}= {res}    0.8902
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8881
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1343
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8032

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2980296{col 26}{space 2} .0782756{col 37}{space 1}    3.81{col 46}{space 3}0.000{col 54}{space 4}  .140729{col 67}{space 3} .4553302
{txt}ihs_S4_L3_sd {c |}{col 14}{res}{space 2} .0687629{col 26}{space 2} .0563142{col 37}{space 1}    1.22{col 46}{space 3}0.228{col 54}{space 4}-.0444047{col 67}{space 3} .1819304
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6510701{col 26}{space 2} .1048963{col 37}{space 1}    6.21{col 46}{space 3}0.000{col 54}{space 4} .4402731{col 67}{space 3} .8618672
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.78
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8892
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8871
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1263
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8069

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .299672{col 26}{space 2} .0760906{col 37}{space 1}    3.94{col 46}{space 3}0.000{col 54}{space 4} .1467623{col 67}{space 3} .4525817
{txt}ihs_S5_L3_sd {c |}{col 14}{res}{space 2}-.0091456{col 26}{space 2} .0603712{col 37}{space 1}   -0.15{col 46}{space 3}0.880{col 54}{space 4}-.1304662{col 67}{space 3} .1121749
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7493656{col 26}{space 2} .1126901{col 37}{space 1}    6.65{col 46}{space 3}0.000{col 54}{space 4} .5229065{col 67}{space 3} .9758247
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.74
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8921
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8900
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1488
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7964

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .282014{col 26}{space 2} .0771378{col 37}{space 1}    3.66{col 46}{space 3}0.001{col 54}{space 4} .1269998{col 67}{space 3} .4370281
{txt}ihs_S6_L3_sd {c |}{col 14}{res}{space 2}  .105266{col 26}{space 2} .0386933{col 37}{space 1}    2.72{col 46}{space 3}0.009{col 54}{space 4} .0275088{col 67}{space 3} .1830231
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5087235{col 26}{space 2} .1132077{col 37}{space 1}    4.49{col 46}{space 3}0.000{col 54}{space 4} .2812242{col 67}{space 3} .7362228
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.95
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0005
{txt}{col 51}R-squared{col 67}= {res}    0.8909
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8888
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1394
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8008

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2918189{col 26}{space 2} .0773982{col 37}{space 1}    3.77{col 46}{space 3}0.000{col 54}{space 4} .1362814{col 67}{space 3} .4473564
{txt}ihs_S7_L3_sd {c |}{col 14}{res}{space 2} .0980532{col 26}{space 2} .0469298{col 37}{space 1}    2.09{col 46}{space 3}0.042{col 54}{space 4} .0037443{col 67}{space 3} .1923621
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .476747{col 26}{space 2} .1504999{col 37}{space 1}    3.17{col 46}{space 3}0.003{col 54}{space 4} .1743061{col 67}{space 3}  .779188
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.99
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0010
{txt}{col 51}R-squared{col 67}= {res}    0.8919
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8898
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1475
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7970

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2777287{col 26}{space 2} .0737841{col 37}{space 1}    3.76{col 46}{space 3}0.000{col 54}{space 4}  .129454{col 67}{space 3} .4260035
{txt}ihs_S8_L3_sd {c |}{col 14}{res}{space 2} .1829017{col 26}{space 2} .0893546{col 37}{space 1}    2.05{col 46}{space 3}0.046{col 54}{space 4} .0033368{col 67}{space 3} .3624665
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2265366{col 26}{space 2} .2817885{col 37}{space 1}    0.80{col 46}{space 3}0.425{col 54}{space 4}-.3397387{col 67}{space 3} .7928119
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.77
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0006
{txt}{col 51}R-squared{col 67}= {res}    0.8714
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8689
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1473
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8435

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3062853{col 26}{space 2} .0829478{col 37}{space 1}    3.69{col 46}{space 3}0.001{col 54}{space 4} .1395954{col 67}{space 3} .4729753
{txt}ihs_S1_L3_sd {c |}{col 14}{res}{space 2} .1204517{col 26}{space 2} .0650606{col 37}{space 1}    1.85{col 46}{space 3}0.070{col 54}{space 4}-.0102926{col 67}{space 3}  .251196
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.1959489{col 26}{space 2} .4869272{col 37}{space 1}   -0.40{col 46}{space 3}0.689{col 54}{space 4}-1.174466{col 67}{space 3}  .782568
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.50
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8704
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8679
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1407
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8467

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3182925{col 26}{space 2} .0823829{col 37}{space 1}    3.86{col 46}{space 3}0.000{col 54}{space 4} .1527379{col 67}{space 3} .4838471
{txt}ihs_S2_L3_sd {c |}{col 14}{res}{space 2} .0247842{col 26}{space 2} .0477499{col 37}{space 1}    0.52{col 46}{space 3}0.606{col 54}{space 4}-.0711728{col 67}{space 3} .1207411
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6153297{col 26}{space 2} .1187152{col 37}{space 1}    5.18{col 46}{space 3}0.000{col 54}{space 4} .3767625{col 67}{space 3} .8538968
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.74
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8702
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8677
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1396
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8473

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3176472{col 26}{space 2} .0826036{col 37}{space 1}    3.85{col 46}{space 3}0.000{col 54}{space 4} .1516492{col 67}{space 3} .4836453
{txt}ihs_S3_L3_sd {c |}{col 14}{res}{space 2}-.0006191{col 26}{space 2} .0398081{col 37}{space 1}   -0.02{col 46}{space 3}0.988{col 54}{space 4}-.0806164{col 67}{space 3} .0793782
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6907018{col 26}{space 2} .1268701{col 37}{space 1}    5.44{col 46}{space 3}0.000{col 54}{space 4} .4357467{col 67}{space 3} .9456568
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.69
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8719
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8694
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1504
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8419

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3141605{col 26}{space 2} .0835044{col 37}{space 1}    3.76{col 46}{space 3}0.000{col 54}{space 4} .1463522{col 67}{space 3} .4819689
{txt}ihs_S4_L3_sd {c |}{col 14}{res}{space 2} .0836847{col 26}{space 2} .0530835{col 37}{space 1}    1.58{col 46}{space 3}0.121{col 54}{space 4}-.0229907{col 67}{space 3} .1903601
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .585843{col 26}{space 2} .0912042{col 37}{space 1}    6.42{col 46}{space 3}0.000{col 54}{space 4} .4025614{col 67}{space 3} .7691247
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.50
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8703
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8678
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1398
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8472

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3184896{col 26}{space 2} .0803484{col 37}{space 1}    3.96{col 46}{space 3}0.000{col 54}{space 4} .1570234{col 67}{space 3} .4799558
{txt}ihs_S5_L3_sd {c |}{col 14}{res}{space 2}-.0115303{col 26}{space 2} .0623232{col 37}{space 1}   -0.19{col 46}{space 3}0.854{col 54}{space 4}-.1367734{col 67}{space 3} .1137128
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6998773{col 26}{space 2}  .112124{col 37}{space 1}    6.24{col 46}{space 3}0.000{col 54}{space 4} .4745556{col 67}{space 3}  .925199
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.45
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8745
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8721
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1678
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8332

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2993693{col 26}{space 2}  .080126{col 37}{space 1}    3.74{col 46}{space 3}0.000{col 54}{space 4} .1383501{col 67}{space 3} .4603885
{txt}ihs_S6_L3_sd {c |}{col 14}{res}{space 2} .1270318{col 26}{space 2} .0465912{col 37}{space 1}    2.73{col 46}{space 3}0.009{col 54}{space 4} .0334033{col 67}{space 3} .2206603
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4199494{col 26}{space 2} .1282703{col 37}{space 1}    3.27{col 46}{space 3}0.002{col 54}{space 4} .1621806{col 67}{space 3} .6777183
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.70
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0006
{txt}{col 51}R-squared{col 67}= {res}    0.8721
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8696
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1519
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8411

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3075095{col 26}{space 2} .0807718{col 37}{space 1}    3.81{col 46}{space 3}0.000{col 54}{space 4} .1451925{col 67}{space 3} .4698264
{txt}ihs_S7_L3_sd {c |}{col 14}{res}{space 2} .0978854{col 26}{space 2} .0477319{col 37}{space 1}    2.05{col 46}{space 3}0.046{col 54}{space 4} .0019645{col 67}{space 3} .1938062
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4372169{col 26}{space 2} .1520647{col 37}{space 1}    2.88{col 46}{space 3}0.006{col 54}{space 4} .1316314{col 67}{space 3} .7428024
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.17
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8753
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8729
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1733
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8305

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2898162{col 26}{space 2} .0776739{col 37}{space 1}    3.73{col 46}{space 3}0.000{col 54}{space 4} .1337246{col 67}{space 3} .4459078
{txt}ihs_S8_L3_sd {c |}{col 14}{res}{space 2} .2273492{col 26}{space 2} .0833326{col 37}{space 1}    2.73{col 46}{space 3}0.009{col 54}{space 4} .0598861{col 67}{space 3} .3948123
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .0671635{col 26}{space 2} .2506356{col 37}{space 1}    0.27{col 46}{space 3}0.790{col 54}{space 4}-.4365076{col 67}{space 3} .5708346
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.06
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0020
{txt}{col 51}R-squared{col 67}= {res}    0.8810
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8787
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1151
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7651

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2942486{col 26}{space 2} .0783206{col 37}{space 1}    3.76{col 46}{space 3}0.000{col 54}{space 4} .1368574{col 67}{space 3} .4516398
{txt}ihs_S1_L3_sd {c |}{col 14}{res}{space 2} .0738858{col 26}{space 2} .0561168{col 37}{space 1}    1.32{col 46}{space 3}0.194{col 54}{space 4}-.0388851{col 67}{space 3} .1866567
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .1347982{col 26}{space 2} .4323466{col 37}{space 1}    0.31{col 46}{space 3}0.757{col 54}{space 4}-.7340348{col 67}{space 3} 1.003631
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.44
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8807
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8784
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1128
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7662

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2967311{col 26}{space 2} .0814257{col 37}{space 1}    3.64{col 46}{space 3}0.001{col 54}{space 4} .1330999{col 67}{space 3} .4603622
{txt}ihs_S2_L3_sd {c |}{col 14}{res}{space 2} .0221598{col 26}{space 2} .0410709{col 37}{space 1}    0.54{col 46}{space 3}0.592{col 54}{space 4}-.0603753{col 67}{space 3} .1046949
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6067647{col 26}{space 2} .0925814{col 37}{space 1}    6.55{col 46}{space 3}0.000{col 54}{space 4} .4207153{col 67}{space 3} .7928141
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.09
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0009
{txt}{col 51}R-squared{col 67}= {res}    0.8805
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8782
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1118
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7666

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .298611{col 26}{space 2} .0781513{col 37}{space 1}    3.82{col 46}{space 3}0.000{col 54}{space 4}   .14156{col 67}{space 3} .4556619
{txt}ihs_S3_L3_sd {c |}{col 14}{res}{space 2} -.002734{col 26}{space 2}  .024101{col 37}{space 1}   -0.11{col 46}{space 3}0.910{col 54}{space 4}-.0511668{col 67}{space 3} .0456988
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6720042{col 26}{space 2} .0825899{col 37}{space 1}    8.14{col 46}{space 3}0.000{col 54}{space 4} .5060335{col 67}{space 3} .8379749
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.41
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8823
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8800
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1251
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7608

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2959908{col 26}{space 2} .0821052{col 37}{space 1}    3.61{col 46}{space 3}0.001{col 54}{space 4} .1309942{col 67}{space 3} .4609874
{txt}ihs_S4_L3_sd {c |}{col 14}{res}{space 2}  .084578{col 26}{space 2} .0544751{col 37}{space 1}    1.55{col 46}{space 3}0.127{col 54}{space 4}-.0248938{col 67}{space 3} .1940497
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5693938{col 26}{space 2} .0730174{col 37}{space 1}    7.80{col 46}{space 3}0.000{col 54}{space 4} .4226599{col 67}{space 3} .7161276
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.91
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0011
{txt}{col 51}R-squared{col 67}= {res}    0.8805
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8782
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1119
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7665

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .298768{col 26}{space 2} .0780829{col 37}{space 1}    3.83{col 46}{space 3}0.000{col 54}{space 4} .1418546{col 67}{space 3} .4556814
{txt}ihs_S5_L3_sd {c |}{col 14}{res}{space 2}-.0104566{col 26}{space 2} .0450383{col 37}{space 1}   -0.23{col 46}{space 3}0.817{col 54}{space 4}-.1009646{col 67}{space 3} .0800513
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6770007{col 26}{space 2} .0819755{col 37}{space 1}    8.26{col 46}{space 3}0.000{col 54}{space 4} .5122647{col 67}{space 3} .8417367
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.87
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8840
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8817
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1375
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7554

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .280621{col 26}{space 2} .0747231{col 37}{space 1}    3.76{col 46}{space 3}0.000{col 54}{space 4} .1304592{col 67}{space 3} .4307827
{txt}ihs_S6_L3_sd {c |}{col 14}{res}{space 2} .1143556{col 26}{space 2} .0443504{col 37}{space 1}    2.58{col 46}{space 3}0.013{col 54}{space 4}   .02523{col 67}{space 3} .2034811
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4387183{col 26}{space 2} .1093957{col 37}{space 1}    4.01{col 46}{space 3}0.000{col 54}{space 4} .2188794{col 67}{space 3} .6585573
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.11
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0009
{txt}{col 51}R-squared{col 67}= {res}    0.8815
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8792
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1193
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7634

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2896083{col 26}{space 2} .0756129{col 37}{space 1}    3.83{col 46}{space 3}0.000{col 54}{space 4} .1376585{col 67}{space 3} .4415582
{txt}ihs_S7_L3_sd {c |}{col 14}{res}{space 2} .0709148{col 26}{space 2}  .035893{col 37}{space 1}    1.98{col 46}{space 3}0.054{col 54}{space 4}-.0012148{col 67}{space 3} .1430444
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4957868{col 26}{space 2} .1187006{col 37}{space 1}    4.18{col 46}{space 3}0.000{col 54}{space 4} .2572492{col 67}{space 3} .7343245
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.16
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8866
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8844
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1570
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7468

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2646264{col 26}{space 2} .0688874{col 37}{space 1}    3.84{col 46}{space 3}0.000{col 54}{space 4} .1261921{col 67}{space 3} .4030608
{txt}ihs_S8_L3_sd {c |}{col 14}{res}{space 2} .2449594{col 26}{space 2} .0820185{col 37}{space 1}    2.99{col 46}{space 3}0.004{col 54}{space 4}  .080137{col 67}{space 3} .4097818
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .0215502{col 26}{space 2} .2355159{col 37}{space 1}    0.09{col 46}{space 3}0.927{col 54}{space 4}-.4517368{col 67}{space 3} .4948372
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.83
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0286
{txt}{col 51}R-squared{col 67}= {res}    0.9135
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9119
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0858
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7208

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2048405{col 26}{space 2} .0933475{col 37}{space 1}    2.19{col 46}{space 3}0.033{col 54}{space 4} .0172516{col 67}{space 3} .3924294
{txt}ihs_S1_L3_sd {c |}{col 14}{res}{space 2} .0957898{col 26}{space 2} .0597413{col 37}{space 1}    1.60{col 46}{space 3}0.115{col 54}{space 4}-.0242649{col 67}{space 3} .2158444
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .1262844{col 26}{space 2} .4671734{col 37}{space 1}    0.27{col 46}{space 3}0.788{col 54}{space 4}-.8125358{col 67}{space 3} 1.065105
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      4.66
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0140
{txt}{col 51}R-squared{col 67}= {res}    0.9130
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9113
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0804
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7230

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2115444{col 26}{space 2} .0934935{col 37}{space 1}    2.26{col 46}{space 3}0.028{col 54}{space 4} .0236623{col 67}{space 3} .3994265
{txt}ihs_S2_L3_sd {c |}{col 14}{res}{space 2} .0189101{col 26}{space 2}  .026851{col 37}{space 1}    0.70{col 46}{space 3}0.485{col 54}{space 4}-.0350491{col 67}{space 3} .0728693
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .8032209{col 26}{space 2} .0865347{col 37}{space 1}    9.28{col 46}{space 3}0.000{col 54}{space 4} .6293228{col 67}{space 3} .9771189
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.96
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0010
{txt}{col 51}R-squared{col 67}= {res}    0.9131
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9114
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0809
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7228

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2115553{col 26}{space 2} .0929495{col 37}{space 1}    2.28{col 46}{space 3}0.027{col 54}{space 4} .0247663{col 67}{space 3} .3983444
{txt}ihs_S3_L3_sd {c |}{col 14}{res}{space 2}-.0220381{col 26}{space 2} .0255826{col 37}{space 1}   -0.86{col 46}{space 3}0.393{col 54}{space 4}-.0734483{col 67}{space 3} .0293722
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .8995728{col 26}{space 2} .1226922{col 37}{space 1}    7.33{col 46}{space 3}0.000{col 54}{space 4} .6530136{col 67}{space 3} 1.146132
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      6.49
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0032
{txt}{col 51}R-squared{col 67}= {res}    0.9137
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9120
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0875
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7202

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2113557{col 26}{space 2} .0950283{col 37}{space 1}    2.22{col 46}{space 3}0.031{col 54}{space 4} .0203891{col 67}{space 3} .4023223
{txt}ihs_S4_L3_sd {c |}{col 14}{res}{space 2} .0601658{col 26}{space 2} .0316376{col 37}{space 1}    1.90{col 46}{space 3}0.063{col 54}{space 4}-.0034123{col 67}{space 3} .1237438
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7818315{col 26}{space 2} .0848157{col 37}{space 1}    9.22{col 46}{space 3}0.000{col 54}{space 4} .6113881{col 67}{space 3}  .952275
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.37
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0016
{txt}{col 51}R-squared{col 67}= {res}    0.9136
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9119
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0864
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7206

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2112596{col 26}{space 2} .0914024{col 37}{space 1}    2.31{col 46}{space 3}0.025{col 54}{space 4} .0275796{col 67}{space 3} .3949396
{txt}ihs_S5_L3_sd {c |}{col 14}{res}{space 2} -.061833{col 26}{space 2} .0554358{col 37}{space 1}   -1.12{col 46}{space 3}0.270{col 54}{space 4}-.1732355{col 67}{space 3} .0495695
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .9217064{col 26}{space 2} .1260649{col 37}{space 1}    7.31{col 46}{space 3}0.000{col 54}{space 4} .6683695{col 67}{space 3} 1.175043
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.63
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0340
{txt}{col 51}R-squared{col 67}= {res}    0.9141
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9124
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0913
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7187

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2030218{col 26}{space 2} .0916068{col 37}{space 1}    2.22{col 46}{space 3}0.031{col 54}{space 4} .0189311{col 67}{space 3} .3871126
{txt}ihs_S6_L3_sd {c |}{col 14}{res}{space 2} .0684631{col 26}{space 2} .0321955{col 37}{space 1}    2.13{col 46}{space 3}0.039{col 54}{space 4} .0037638{col 67}{space 3} .1331623
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7069057{col 26}{space 2} .1311311{col 37}{space 1}    5.39{col 46}{space 3}0.000{col 54}{space 4}  .443388{col 67}{space 3} .9704235
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.94
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0621
{txt}{col 51}R-squared{col 67}= {res}    0.9131
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9115
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0816
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7225

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2088861{col 26}{space 2} .0931983{col 37}{space 1}    2.24{col 46}{space 3}0.030{col 54}{space 4} .0215971{col 67}{space 3}  .396175
{txt}ihs_S7_L3_sd {c |}{col 14}{res}{space 2} .0360864{col 26}{space 2} .0325784{col 37}{space 1}    1.11{col 46}{space 3}0.273{col 54}{space 4}-.0293823{col 67}{space 3} .1015551
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7625873{col 26}{space 2} .1313774{col 37}{space 1}    5.80{col 46}{space 3}0.000{col 54}{space 4} .4985746{col 67}{space 3}   1.0266
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      5.48
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0071
{txt}{col 51}R-squared{col 67}= {res}    0.9145
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9129
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0965
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7166

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2004446{col 26}{space 2} .0910707{col 37}{space 1}    2.20{col 46}{space 3}0.032{col 54}{space 4} .0174311{col 67}{space 3} .3834581
{txt}ihs_S8_L3_sd {c |}{col 14}{res}{space 2} .1452207{col 26}{space 2} .0572926{col 37}{space 1}    2.53{col 46}{space 3}0.014{col 54}{space 4} .0300869{col 67}{space 3} .2603545
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4455684{col 26}{space 2} .1906831{col 37}{space 1}    2.34{col 46}{space 3}0.024{col 54}{space 4} .0623764{col 67}{space 3} .8287605
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)

{com}. 
.         ** Calculate rmse **
.         
. forvalues q = 1(1)8 {c -(} 
{txt}  2{com}.         gen rmse_S`q'_ihs = . 
{txt}  3{com}.         egen aux_rmse_`q' = sum(v_e_`q'^2) if v_e_`q' != .  // empty vector rmse
{txt}  4{com}.         replace rmse_S`q'_ihs = (aux_rmse_`q'/4200)^0.5 
{txt}  5{com}.         
.         replace v_e_`q' = . 
{txt}  6{com}. {c )-}
{txt}(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)

{com}. 
. quietly drop aux_rmse_* err_S*  
{txt}
{com}.         
.         
. sum rmse_S*

{txt}    Variable {c |}        Obs        Mean    Std. dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 1}rmse_S1_log {c |}{res}      4,200    1.726167           0   1.726167   1.726167
{txt}{space 1}rmse_S2_log {c |}{res}      4,200    1.638036           0   1.638036   1.638036
{txt}{space 1}rmse_S3_log {c |}{res}      4,200    1.646324           0   1.646324   1.646324
{txt}{space 1}rmse_S4_log {c |}{res}      4,200     1.60211           0    1.60211    1.60211
{txt}{space 1}rmse_S5_log {c |}{res}      4,200    1.646199           0   1.646199   1.646199
{txt}{hline 13}{c +}{hline 57}
{space 1}rmse_S6_log {c |}{res}      4,200    1.491918           0   1.491918   1.491918
{txt}{space 1}rmse_S7_log {c |}{res}      4,200    1.516456           0   1.516456   1.516456
{txt}{space 1}rmse_S8_log {c |}{res}      4,200    1.507947           0   1.507947   1.507947
{txt}{space 1}rmse_S1_ihs {c |}{res}      4,200    1.943421           0   1.943421   1.943421
{txt}{space 1}rmse_S2_ihs {c |}{res}      4,200    1.851518           0   1.851518   1.851518
{txt}{hline 13}{c +}{hline 57}
{space 1}rmse_S3_ihs {c |}{res}      4,200    1.858191           0   1.858191   1.858191
{txt}{space 1}rmse_S4_ihs {c |}{res}      4,200    1.814743           0   1.814743   1.814743
{txt}{space 1}rmse_S5_ihs {c |}{res}      4,200    1.859744           0   1.859744   1.859744
{txt}{space 1}rmse_S6_ihs {c |}{res}      4,200    1.706141           0   1.706141   1.706141
{txt}{space 1}rmse_S7_ihs {c |}{res}      4,200    1.733417           0   1.733417   1.733417
{txt}{hline 13}{c +}{hline 57}
{space 1}rmse_S8_ihs {c |}{res}      4,200    1.684344           0   1.684344   1.684344
{txt}
{com}.         
. 
.                 ************************
.                 *** 4 corners (C) ******
.                 ************************
.                 
.     ** Results for log transformed data **
.         
. forvalues i = 1(1)7 {c -(}   // loop over countries 
{txt}  2{com}.         forvalues q = 1(1)8 {c -(} // loop over directions 
{txt}  3{com}.         
.                 reghdfe  log_csd    log_L3_sd   log_C`q'_L3_sd                                                          if cell <= 50 & year == 2014 & ccode != `i', absorb(cell ccode month) vce(cluster cell) //  excl. country i
{txt}  4{com}.                 estimates store log_C`q'
{txt}  5{com}.                 predict log_C`q'_`i', xb
{txt}  6{com}.                 gen err_C`q'_`i' =  log_csd - log_C`q'_`i'                                                                              if cell <= 50 & year == 2014  // note: residuals option in reghdfe is faster, but does not predict out-of-sample 
{txt}  7{com}.                 replace v_e_`q' = err_C`q'_`i' if ccode == `i' // copy to empty vector 
{txt}  8{com}.                 /* check predictions 
>                 sum err_C`q'_`i' if ccode == 1 // 600
>                 sum err_C`q'_`i' // 4,200 
>                 */ 
.         {c )-}
{txt}  9{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.73
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8851
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8829
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1960
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7293

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3193357{col 26}{space 2} .0770095{col 37}{space 1}    4.15{col 46}{space 3}0.000{col 54}{space 4} .1645793{col 67}{space 3} .4740921
{txt}log_C1_L3_sd {c |}{col 14}{res}{space 2} .1352601{col 26}{space 2}  .048388{col 37}{space 1}    2.80{col 46}{space 3}0.007{col 54}{space 4} .0380208{col 67}{space 3} .2324993
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3864166{col 26}{space 2} .1039907{col 37}{space 1}    3.72{col 46}{space 3}0.001{col 54}{space 4} .1774395{col 67}{space 3} .5953937
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.82
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8846
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8824
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1925
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7309

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3239454{col 26}{space 2}  .073739{col 37}{space 1}    4.39{col 46}{space 3}0.000{col 54}{space 4} .1757613{col 67}{space 3} .4721295
{txt}log_C2_L3_sd {c |}{col 14}{res}{space 2} .1462339{col 26}{space 2} .0631544{col 37}{space 1}    2.32{col 46}{space 3}0.025{col 54}{space 4} .0193203{col 67}{space 3} .2731475
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3450901{col 26}{space 2}  .158335{col 37}{space 1}    2.18{col 46}{space 3}0.034{col 54}{space 4}  .026904{col 67}{space 3} .6632762
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.11
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8869
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8847
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2086
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7236

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3159799{col 26}{space 2} .0736113{col 37}{space 1}    4.29{col 46}{space 3}0.000{col 54}{space 4} .1680524{col 67}{space 3} .4639074
{txt}log_C3_L3_sd {c |}{col 14}{res}{space 2}  .182023{col 26}{space 2}  .064476{col 37}{space 1}    2.82{col 46}{space 3}0.007{col 54}{space 4} .0524536{col 67}{space 3} .3115925
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2696378{col 26}{space 2} .1549966{col 37}{space 1}    1.74{col 46}{space 3}0.088{col 54}{space 4}-.0418395{col 67}{space 3} .5811151
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.76
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8869
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8847
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2088
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7235

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3208846{col 26}{space 2}  .073356{col 37}{space 1}    4.37{col 46}{space 3}0.000{col 54}{space 4} .1734703{col 67}{space 3} .4682989
{txt}log_C4_L3_sd {c |}{col 14}{res}{space 2}  .176527{col 26}{space 2} .0630649{col 37}{space 1}    2.80{col 46}{space 3}0.007{col 54}{space 4} .0497934{col 67}{space 3} .3032606
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3031691{col 26}{space 2} .1477627{col 37}{space 1}    2.05{col 46}{space 3}0.046{col 54}{space 4} .0062288{col 67}{space 3} .6001093
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.04
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8853
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8831
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1976
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7286

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .298097{col 26}{space 2} .0762593{col 37}{space 1}    3.91{col 46}{space 3}0.000{col 54}{space 4} .1448481{col 67}{space 3} .4513459
{txt}log_C5_L3_sd {c |}{col 14}{res}{space 2} .1498402{col 26}{space 2}  .049674{col 37}{space 1}    3.02{col 46}{space 3}0.004{col 54}{space 4} .0500165{col 67}{space 3} .2496639
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3591242{col 26}{space 2} .1116964{col 37}{space 1}    3.22{col 46}{space 3}0.002{col 54}{space 4} .1346618{col 67}{space 3} .5835867
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     14.21
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8879
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8857
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2157
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7204

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2914875{col 26}{space 2} .0722897{col 37}{space 1}    4.03{col 46}{space 3}0.000{col 54}{space 4}  .146216{col 67}{space 3}  .436759
{txt}log_C6_L3_sd {c |}{col 14}{res}{space 2} .2122515{col 26}{space 2} .0693483{col 37}{space 1}    3.06{col 46}{space 3}0.004{col 54}{space 4} .0728909{col 67}{space 3}  .351612
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3155958{col 26}{space 2} .1212409{col 37}{space 1}    2.60{col 46}{space 3}0.012{col 54}{space 4}  .071953{col 67}{space 3} .5592386
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.66
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8850
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8828
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1955
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7296

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2988811{col 26}{space 2} .0800008{col 37}{space 1}    3.74{col 46}{space 3}0.000{col 54}{space 4} .1381136{col 67}{space 3} .4596487
{txt}log_C7_L3_sd {c |}{col 14}{res}{space 2} .1769353{col 26}{space 2} .0660029{col 37}{space 1}    2.68{col 46}{space 3}0.010{col 54}{space 4} .0442976{col 67}{space 3} .3095731
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3265984{col 26}{space 2} .1280472{col 37}{space 1}    2.55{col 46}{space 3}0.014{col 54}{space 4} .0692779{col 67}{space 3} .5839189
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: log_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     18.49
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8797
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8774
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1584
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7461

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3362437{col 26}{space 2} .0781872{col 37}{space 1}    4.30{col 46}{space 3}0.000{col 54}{space 4} .1791206{col 67}{space 3} .4933669
{txt}log_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .6279431{col 26}{space 2} .0604986{col 37}{space 1}   10.38{col 46}{space 3}0.000{col 54}{space 4} .5063667{col 67}{space 3} .7495195
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.76
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8851
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8829
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2029
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7075

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3456964{col 26}{space 2}  .098558{col 37}{space 1}    3.51{col 46}{space 3}0.001{col 54}{space 4} .1476366{col 67}{space 3} .5437561
{txt}log_C1_L3_sd {c |}{col 14}{res}{space 2} .1026758{col 26}{space 2} .0419851{col 37}{space 1}    2.45{col 46}{space 3}0.018{col 54}{space 4} .0183037{col 67}{space 3}  .187048
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3781701{col 26}{space 2} .0984678{col 37}{space 1}    3.84{col 46}{space 3}0.000{col 54}{space 4} .1802916{col 67}{space 3} .5760487
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      6.96
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0022
{txt}{col 51}R-squared{col 67}= {res}    0.8835
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8813
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1916
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7124

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .352304{col 26}{space 2}  .095687{col 37}{space 1}    3.68{col 46}{space 3}0.001{col 54}{space 4} .1600138{col 67}{space 3} .5445942
{txt}log_C2_L3_sd {c |}{col 14}{res}{space 2} .0856062{col 26}{space 2}  .053713{col 37}{space 1}    1.59{col 46}{space 3}0.117{col 54}{space 4}-.0223341{col 67}{space 3} .1935464
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3964886{col 26}{space 2} .1575233{col 37}{space 1}    2.52{col 46}{space 3}0.015{col 54}{space 4} .0799337{col 67}{space 3} .7130435
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.59
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0013
{txt}{col 51}R-squared{col 67}= {res}    0.8855
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8833
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2055
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7063

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3454383{col 26}{space 2} .0939573{col 37}{space 1}    3.68{col 46}{space 3}0.001{col 54}{space 4} .1566241{col 67}{space 3} .5342525
{txt}log_C3_L3_sd {c |}{col 14}{res}{space 2} .1282113{col 26}{space 2} .0570847{col 37}{space 1}    2.25{col 46}{space 3}0.029{col 54}{space 4} .0134952{col 67}{space 3} .2429274
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3125208{col 26}{space 2} .1497127{col 37}{space 1}    2.09{col 46}{space 3}0.042{col 54}{space 4} .0116619{col 67}{space 3} .6133798
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.15
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0019
{txt}{col 51}R-squared{col 67}= {res}    0.8855
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8833
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2056
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7062

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3493337{col 26}{space 2} .0941782{col 37}{space 1}    3.71{col 46}{space 3}0.001{col 54}{space 4} .1600756{col 67}{space 3} .5385918
{txt}log_C4_L3_sd {c |}{col 14}{res}{space 2} .1228689{col 26}{space 2} .0556075{col 37}{space 1}    2.21{col 46}{space 3}0.032{col 54}{space 4} .0111214{col 67}{space 3} .2346164
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3392046{col 26}{space 2} .1467164{col 37}{space 1}    2.31{col 46}{space 3}0.025{col 54}{space 4} .0443669{col 67}{space 3} .6340423
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.43
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8846
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8823
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1988
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7093

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3329192{col 26}{space 2} .0965325{col 37}{space 1}    3.45{col 46}{space 3}0.001{col 54}{space 4} .1389298{col 67}{space 3} .5269085
{txt}log_C5_L3_sd {c |}{col 14}{res}{space 2} .1032344{col 26}{space 2} .0394764{col 37}{space 1}    2.62{col 46}{space 3}0.012{col 54}{space 4} .0239035{col 67}{space 3} .1825652
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3822816{col 26}{space 2} .1036323{col 37}{space 1}    3.69{col 46}{space 3}0.001{col 54}{space 4} .1740246{col 67}{space 3} .5905385
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.54
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8860
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8838
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2087
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7048

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3284539{col 26}{space 2} .0942725{col 37}{space 1}    3.48{col 46}{space 3}0.001{col 54}{space 4} .1390063{col 67}{space 3} .5179016
{txt}log_C6_L3_sd {c |}{col 14}{res}{space 2}  .151106{col 26}{space 2} .0618049{col 37}{space 1}    2.44{col 46}{space 3}0.018{col 54}{space 4} .0269045{col 67}{space 3} .2753075
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3461156{col 26}{space 2} .1163788{col 37}{space 1}    2.97{col 46}{space 3}0.005{col 54}{space 4} .1122435{col 67}{space 3} .5799876
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.29
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8855
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8833
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2053
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7064

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3302562{col 26}{space 2} .0995476{col 37}{space 1}    3.32{col 46}{space 3}0.002{col 54}{space 4} .1302079{col 67}{space 3} .5303046
{txt}log_C7_L3_sd {c |}{col 14}{res}{space 2}  .151274{col 26}{space 2} .0625566{col 37}{space 1}    2.42{col 46}{space 3}0.019{col 54}{space 4} .0255617{col 67}{space 3} .2769863
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3091184{col 26}{space 2} .1285871{col 37}{space 1}    2.40{col 46}{space 3}0.020{col 54}{space 4}  .050713{col 67}{space 3} .5675239
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: log_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     13.12
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0007
{txt}{col 51}R-squared{col 67}= {res}    0.8817
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8794
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1788
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7179

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .357713{col 26}{space 2}  .098767{col 37}{space 1}    3.62{col 46}{space 3}0.001{col 54}{space 4} .1592334{col 67}{space 3} .5561927
{txt}log_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .5614654{col 26}{space 2} .0731361{col 37}{space 1}    7.68{col 46}{space 3}0.000{col 54}{space 4} .4144929{col 67}{space 3} .7084378
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     17.00
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8856
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8834
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2088
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6868

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3546301{col 26}{space 2} .0712696{col 37}{space 1}    4.98{col 46}{space 3}0.000{col 54}{space 4} .2114086{col 67}{space 3} .4978517
{txt}log_C1_L3_sd {c |}{col 14}{res}{space 2} .1048397{col 26}{space 2} .0410356{col 37}{space 1}    2.55{col 46}{space 3}0.014{col 54}{space 4} .0223755{col 67}{space 3} .1873039
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3751091{col 26}{space 2} .0889115{col 37}{space 1}    4.22{col 46}{space 3}0.000{col 54}{space 4} .1964348{col 67}{space 3} .5537835
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.06
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8855
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8833
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2082
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6871

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3598565{col 26}{space 2} .0704148{col 37}{space 1}    5.11{col 46}{space 3}0.000{col 54}{space 4} .2183527{col 67}{space 3} .5013603
{txt}log_C2_L3_sd {c |}{col 14}{res}{space 2}   .11737{col 26}{space 2}  .061939{col 37}{space 1}    1.89{col 46}{space 3}0.064{col 54}{space 4}-.0071012{col 67}{space 3} .2418411
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3374508{col 26}{space 2} .1480283{col 37}{space 1}    2.28{col 46}{space 3}0.027{col 54}{space 4} .0399767{col 67}{space 3} .6349248
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.21
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8869
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8847
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2182
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6827

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3543411{col 26}{space 2} .0699484{col 37}{space 1}    5.07{col 46}{space 3}0.000{col 54}{space 4} .2137746{col 67}{space 3} .4949076
{txt}log_C3_L3_sd {c |}{col 14}{res}{space 2} .1450088{col 26}{space 2} .0644653{col 37}{space 1}    2.25{col 46}{space 3}0.029{col 54}{space 4} .0154608{col 67}{space 3} .2745567
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2836217{col 26}{space 2} .1507419{col 37}{space 1}    1.88{col 46}{space 3}0.066{col 54}{space 4}-.0193055{col 67}{space 3} .5865489
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.85
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8862
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8840
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2135
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6848

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3571602{col 26}{space 2} .0706259{col 37}{space 1}    5.06{col 46}{space 3}0.000{col 54}{space 4} .2152321{col 67}{space 3} .4990883
{txt}log_C4_L3_sd {c |}{col 14}{res}{space 2} .1323368{col 26}{space 2} .0645707{col 37}{space 1}    2.05{col 46}{space 3}0.046{col 54}{space 4} .0025771{col 67}{space 3} .2620964
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .323425{col 26}{space 2} .1461108{col 37}{space 1}    2.21{col 46}{space 3}0.032{col 54}{space 4} .0298044{col 67}{space 3} .6170456
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     16.99
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8857
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8835
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2097
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6864

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3388408{col 26}{space 2} .0755966{col 37}{space 1}    4.48{col 46}{space 3}0.000{col 54}{space 4} .1869236{col 67}{space 3} .4907579
{txt}log_C5_L3_sd {c |}{col 14}{res}{space 2}  .122872{col 26}{space 2} .0506202{col 37}{space 1}    2.43{col 46}{space 3}0.019{col 54}{space 4} .0211468{col 67}{space 3} .2245972
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3477141{col 26}{space 2} .0983601{col 37}{space 1}    3.54{col 46}{space 3}0.001{col 54}{space 4}  .150052{col 67}{space 3} .5453761
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     16.33
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8870
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8848
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2188
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6825

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3386166{col 26}{space 2} .0745498{col 37}{space 1}    4.54{col 46}{space 3}0.000{col 54}{space 4} .1888031{col 67}{space 3}   .48843
{txt}log_C6_L3_sd {c |}{col 14}{res}{space 2} .1703183{col 26}{space 2} .0707552{col 37}{space 1}    2.41{col 46}{space 3}0.020{col 54}{space 4} .0281304{col 67}{space 3} .3125063
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .313729{col 26}{space 2} .1134905{col 37}{space 1}    2.76{col 46}{space 3}0.008{col 54}{space 4} .0856613{col 67}{space 3} .5417967
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     16.57
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8878
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8856
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2243
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6800

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .337027{col 26}{space 2} .0771903{col 37}{space 1}    4.37{col 46}{space 3}0.000{col 54}{space 4} .1819073{col 67}{space 3} .4921468
{txt}log_C7_L3_sd {c |}{col 14}{res}{space 2} .1963453{col 26}{space 2} .0790469{col 37}{space 1}    2.48{col 46}{space 3}0.016{col 54}{space 4} .0374947{col 67}{space 3} .3551959
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2286992{col 26}{space 2} .1394698{col 37}{space 1}    1.64{col 46}{space 3}0.107{col 54}{space 4} -.051576{col 67}{space 3} .5089743
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: log_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     26.52
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8820
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8798
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1842
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6973

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3722551{col 26}{space 2} .0722851{col 37}{space 1}    5.15{col 46}{space 3}0.000{col 54}{space 4} .2269927{col 67}{space 3} .5175174
{txt}log_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .5574188{col 26}{space 2} .0538925{col 37}{space 1}   10.34{col 46}{space 3}0.000{col 54}{space 4} .4491177{col 67}{space 3} .6657198
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.50
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8929
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8908
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1648
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7153

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3008946{col 26}{space 2} .0771755{col 37}{space 1}    3.90{col 46}{space 3}0.000{col 54}{space 4} .1458047{col 67}{space 3} .4559845
{txt}log_C1_L3_sd {c |}{col 14}{res}{space 2} .0975647{col 26}{space 2} .0381626{col 37}{space 1}    2.56{col 46}{space 3}0.014{col 54}{space 4} .0208741{col 67}{space 3} .1742554
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4586404{col 26}{space 2}  .097024{col 37}{space 1}    4.73{col 46}{space 3}0.000{col 54}{space 4} .2636634{col 67}{space 3} .6536173
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.81
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0005
{txt}{col 51}R-squared{col 67}= {res}    0.8922
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8901
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1594
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7176

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3047642{col 26}{space 2} .0744985{col 37}{space 1}    4.09{col 46}{space 3}0.000{col 54}{space 4} .1550539{col 67}{space 3} .4544746
{txt}log_C2_L3_sd {c |}{col 14}{res}{space 2} .0987603{col 26}{space 2}  .056853{col 37}{space 1}    1.74{col 46}{space 3}0.089{col 54}{space 4}  -.01549{col 67}{space 3} .2130107
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4477906{col 26}{space 2} .1631995{col 37}{space 1}    2.74{col 46}{space 3}0.008{col 54}{space 4}  .119829{col 67}{space 3} .7757522
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.22
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8947
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8927
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1791
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7091

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2966757{col 26}{space 2} .0734771{col 37}{space 1}    4.04{col 46}{space 3}0.000{col 54}{space 4}  .149018{col 67}{space 3} .4443334
{txt}log_C3_L3_sd {c |}{col 14}{res}{space 2} .1499765{col 26}{space 2}  .059883{col 37}{space 1}    2.50{col 46}{space 3}0.016{col 54}{space 4} .0296371{col 67}{space 3} .2703159
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3348141{col 26}{space 2} .1574305{col 37}{space 1}    2.13{col 46}{space 3}0.039{col 54}{space 4} .0184457{col 67}{space 3} .6511826
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.74
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0006
{txt}{col 51}R-squared{col 67}= {res}    0.8943
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8923
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1757
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7106

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2999149{col 26}{space 2} .0741035{col 37}{space 1}    4.05{col 46}{space 3}0.000{col 54}{space 4} .1509984{col 67}{space 3} .4488314
{txt}log_C4_L3_sd {c |}{col 14}{res}{space 2} .1350407{col 26}{space 2} .0560126{col 37}{space 1}    2.41{col 46}{space 3}0.020{col 54}{space 4} .0224791{col 67}{space 3} .2476023
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3850251{col 26}{space 2} .1460145{col 37}{space 1}    2.64{col 46}{space 3}0.011{col 54}{space 4}  .091598{col 67}{space 3} .6784522
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.26
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8933
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8912
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1677
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7140

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2817312{col 26}{space 2} .0778074{col 37}{space 1}    3.62{col 46}{space 3}0.001{col 54}{space 4} .1253715{col 67}{space 3}  .438091
{txt}log_C5_L3_sd {c |}{col 14}{res}{space 2} .1157866{col 26}{space 2} .0397034{col 37}{space 1}    2.92{col 46}{space 3}0.005{col 54}{space 4} .0359996{col 67}{space 3} .1955736
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4312064{col 26}{space 2} .1021825{col 37}{space 1}    4.22{col 46}{space 3}0.000{col 54}{space 4} .2258631{col 67}{space 3} .6365497
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.44
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8952
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8932
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1827
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7076

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2793714{col 26}{space 2}  .073681{col 37}{space 1}    3.79{col 46}{space 3}0.000{col 54}{space 4} .1313039{col 67}{space 3}  .427439
{txt}log_C6_L3_sd {c |}{col 14}{res}{space 2} .1759938{col 26}{space 2} .0626826{col 37}{space 1}    2.81{col 46}{space 3}0.007{col 54}{space 4} .0500284{col 67}{space 3} .3019592
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3697729{col 26}{space 2}  .118368{col 37}{space 1}    3.12{col 46}{space 3}0.003{col 54}{space 4} .1319034{col 67}{space 3} .6076424
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.93
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8934
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8914
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1688
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7136

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2860618{col 26}{space 2} .0787838{col 37}{space 1}    3.63{col 46}{space 3}0.001{col 54}{space 4} .1277398{col 67}{space 3} .4443839
{txt}log_C7_L3_sd {c |}{col 14}{res}{space 2} .1589516{col 26}{space 2} .0703248{col 37}{space 1}    2.26{col 46}{space 3}0.028{col 54}{space 4} .0176286{col 67}{space 3} .3002746
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3550536{col 26}{space 2} .1428069{col 37}{space 1}    2.49{col 46}{space 3}0.016{col 54}{space 4} .0680723{col 67}{space 3} .6420349
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: log_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     16.51
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8898
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8877
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1405
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7255

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3143485{col 26}{space 2} .0773698{col 37}{space 1}    4.06{col 46}{space 3}0.000{col 54}{space 4} .1588681{col 67}{space 3} .4698289
{txt}log_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .6476276{col 26}{space 2}  .062453{col 37}{space 1}   10.37{col 46}{space 3}0.000{col 54}{space 4} .5221235{col 67}{space 3} .7731316
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.04
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8752
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8728
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1888
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7476

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3267537{col 26}{space 2} .0818853{col 37}{space 1}    3.99{col 46}{space 3}0.000{col 54}{space 4} .1621991{col 67}{space 3} .4913083
{txt}log_C1_L3_sd {c |}{col 14}{res}{space 2} .1229849{col 26}{space 2} .0454901{col 37}{space 1}    2.70{col 46}{space 3}0.009{col 54}{space 4} .0315691{col 67}{space 3} .2144008
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .361873{col 26}{space 2} .1084819{col 37}{space 1}    3.34{col 46}{space 3}0.002{col 54}{space 4} .1438704{col 67}{space 3} .5798756
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.33
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0008
{txt}{col 51}R-squared{col 67}= {res}    0.8747
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8722
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1851
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7493

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3286066{col 26}{space 2} .0805515{col 37}{space 1}    4.08{col 46}{space 3}0.000{col 54}{space 4} .1667323{col 67}{space 3}  .490481
{txt}log_C2_L3_sd {c |}{col 14}{res}{space 2} .1260485{col 26}{space 2} .0612067{col 37}{space 1}    2.06{col 46}{space 3}0.045{col 54}{space 4}  .003049{col 67}{space 3}  .249048
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3477455{col 26}{space 2} .1664136{col 37}{space 1}    2.09{col 46}{space 3}0.042{col 54}{space 4} .0133249{col 67}{space 3} .6821661
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.82
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8776
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8753
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2043
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7404

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3185102{col 26}{space 2} .0795136{col 37}{space 1}    4.01{col 46}{space 3}0.000{col 54}{space 4} .1587216{col 67}{space 3} .4782988
{txt}log_C3_L3_sd {c |}{col 14}{res}{space 2}  .171432{col 26}{space 2} .0617808{col 37}{space 1}    2.77{col 46}{space 3}0.008{col 54}{space 4} .0472788{col 67}{space 3} .2955852
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2513136{col 26}{space 2} .1565014{col 37}{space 1}    1.61{col 46}{space 3}0.115{col 54}{space 4}-.0631877{col 67}{space 3} .5658149
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.07
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8770
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8746
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2001
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7424

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3188207{col 26}{space 2}  .079587{col 37}{space 1}    4.01{col 46}{space 3}0.000{col 54}{space 4} .1588846{col 67}{space 3} .4787568
{txt}log_C4_L3_sd {c |}{col 14}{res}{space 2} .1576864{col 26}{space 2} .0595423{col 37}{space 1}    2.65{col 46}{space 3}0.011{col 54}{space 4} .0380316{col 67}{space 3} .2773411
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3033624{col 26}{space 2}  .148453{col 37}{space 1}    2.04{col 46}{space 3}0.046{col 54}{space 4}  .005035{col 67}{space 3} .6016898
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.71
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8757
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8733
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1920
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7462

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3039763{col 26}{space 2} .0818886{col 37}{space 1}    3.71{col 46}{space 3}0.001{col 54}{space 4} .1394149{col 67}{space 3} .4685376
{txt}log_C5_L3_sd {c |}{col 14}{res}{space 2}  .139892{col 26}{space 2} .0495177{col 37}{space 1}    2.83{col 46}{space 3}0.007{col 54}{space 4} .0403824{col 67}{space 3} .2394015
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3426048{col 26}{space 2} .1190639{col 37}{space 1}    2.88{col 46}{space 3}0.006{col 54}{space 4} .1033368{col 67}{space 3} .5818727
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.96
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8784
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8761
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2095
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7381

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2985462{col 26}{space 2} .0779999{col 37}{space 1}    3.83{col 46}{space 3}0.000{col 54}{space 4} .1417995{col 67}{space 3} .4552928
{txt}log_C6_L3_sd {c |}{col 14}{res}{space 2} .2048934{col 26}{space 2} .0710229{col 37}{space 1}    2.88{col 46}{space 3}0.006{col 54}{space 4} .0621675{col 67}{space 3} .3476192
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2875457{col 26}{space 2} .1303683{col 37}{space 1}    2.21{col 46}{space 3}0.032{col 54}{space 4} .0255608{col 67}{space 3} .5495306
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.04
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8760
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8736
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1936
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7454

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2995912{col 26}{space 2} .0854281{col 37}{space 1}    3.51{col 46}{space 3}0.001{col 54}{space 4}  .127917{col 67}{space 3} .4712654
{txt}log_C7_L3_sd {c |}{col 14}{res}{space 2} .1823371{col 26}{space 2} .0718565{col 37}{space 1}    2.54{col 46}{space 3}0.014{col 54}{space 4} .0379361{col 67}{space 3} .3267381
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2807479{col 26}{space 2}  .141933{col 37}{space 1}    1.98{col 46}{space 3}0.054{col 54}{space 4}-.0044771{col 67}{space 3}  .565973
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: log_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     16.38
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8704
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8680
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1578
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7617

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}   .33638{col 26}{space 2}  .083116{col 37}{space 1}    4.05{col 46}{space 3}0.000{col 54}{space 4} .1693522{col 67}{space 3} .5034079
{txt}log_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .5969731{col 26}{space 2} .0653924{col 37}{space 1}    9.13{col 46}{space 3}0.000{col 54}{space 4} .4655621{col 67}{space 3} .7283841
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.94
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8834
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8811
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1443
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6782

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3069355{col 26}{space 2} .0835845{col 37}{space 1}    3.67{col 46}{space 3}0.001{col 54}{space 4} .1389661{col 67}{space 3} .4749048
{txt}log_C1_L3_sd {c |}{col 14}{res}{space 2} .0762534{col 26}{space 2} .0383174{col 37}{space 1}    1.99{col 46}{space 3}0.052{col 54}{space 4}-.0007483{col 67}{space 3} .1532551
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4397083{col 26}{space 2} .0862823{col 37}{space 1}    5.10{col 46}{space 3}0.000{col 54}{space 4} .2663176{col 67}{space 3}  .613099
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.37
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0007
{txt}{col 51}R-squared{col 67}= {res}    0.8846
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8824
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1535
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6745

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3007053{col 26}{space 2} .0784747{col 37}{space 1}    3.83{col 46}{space 3}0.000{col 54}{space 4} .1430045{col 67}{space 3} .4584062
{txt}log_C2_L3_sd {c |}{col 14}{res}{space 2} .1138224{col 26}{space 2} .0505225{col 37}{space 1}    2.25{col 46}{space 3}0.029{col 54}{space 4} .0122937{col 67}{space 3} .2153512
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3628304{col 26}{space 2}  .124169{col 37}{space 1}    2.92{col 46}{space 3}0.005{col 54}{space 4} .1133034{col 67}{space 3} .6123574
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.89
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8880
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8858
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1780
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6647

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2904171{col 26}{space 2} .0782348{col 37}{space 1}    3.71{col 46}{space 3}0.001{col 54}{space 4} .1331985{col 67}{space 3} .4476358
{txt}log_C3_L3_sd {c |}{col 14}{res}{space 2} .1648344{col 26}{space 2} .0574048{col 37}{space 1}    2.87{col 46}{space 3}0.006{col 54}{space 4} .0494751{col 67}{space 3} .2801938
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2612853{col 26}{space 2} .1289966{col 37}{space 1}    2.03{col 46}{space 3}0.048{col 54}{space 4} .0020569{col 67}{space 3} .5205138
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.40
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8884
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8863
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1814
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6633

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2884863{col 26}{space 2}   .07791{col 37}{space 1}    3.70{col 46}{space 3}0.001{col 54}{space 4} .1319204{col 67}{space 3} .4450523
{txt}log_C4_L3_sd {c |}{col 14}{res}{space 2} .1635673{col 26}{space 2} .0538264{col 37}{space 1}    3.04{col 46}{space 3}0.004{col 54}{space 4} .0553992{col 67}{space 3} .2717355
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2861856{col 26}{space 2} .1160218{col 37}{space 1}    2.47{col 46}{space 3}0.017{col 54}{space 4} .0530311{col 67}{space 3} .5193402
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.03
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8856
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8834
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1607
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6716

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2834853{col 26}{space 2} .0814425{col 37}{space 1}    3.48{col 46}{space 3}0.001{col 54}{space 4} .1198204{col 67}{space 3} .4471502
{txt}log_C5_L3_sd {c |}{col 14}{res}{space 2} .1245755{col 26}{space 2} .0443277{col 37}{space 1}    2.81{col 46}{space 3}0.007{col 54}{space 4} .0354958{col 67}{space 3} .2136553
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .364046{col 26}{space 2} .1013578{col 37}{space 1}    3.59{col 46}{space 3}0.001{col 54}{space 4} .1603599{col 67}{space 3} .5677321
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.06
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8874
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8852
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1738
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6664

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2808635{col 26}{space 2} .0763172{col 37}{space 1}    3.68{col 46}{space 3}0.001{col 54}{space 4} .1274984{col 67}{space 3} .4342287
{txt}log_C6_L3_sd {c |}{col 14}{res}{space 2} .1761917{col 26}{space 2} .0658861{col 37}{space 1}    2.67{col 46}{space 3}0.010{col 54}{space 4} .0437886{col 67}{space 3} .3085948
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .327898{col 26}{space 2} .1122082{col 37}{space 1}    2.92{col 46}{space 3}0.005{col 54}{space 4} .1024071{col 67}{space 3} .5533889
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.30
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8853
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8831
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1585
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6725

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2817008{col 26}{space 2} .0831012{col 37}{space 1}    3.39{col 46}{space 3}0.001{col 54}{space 4} .1147027{col 67}{space 3} .4486988
{txt}log_C7_L3_sd {c |}{col 14}{res}{space 2}  .152558{col 26}{space 2} .0569588{col 37}{space 1}    2.68{col 46}{space 3}0.010{col 54}{space 4}  .038095{col 67}{space 3}  .267021
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3234118{col 26}{space 2} .1138458{col 37}{space 1}    2.84{col 46}{space 3}0.007{col 54}{space 4} .0946301{col 67}{space 3} .5521935
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: log_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     14.72
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8813
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8790
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1290
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6841

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3180106{col 26}{space 2}  .082875{col 37}{space 1}    3.84{col 46}{space 3}0.000{col 54}{space 4}  .151467{col 67}{space 3} .4845542
{txt}log_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2}  .574735{col 26}{space 2} .0584844{col 37}{space 1}    9.83{col 46}{space 3}0.000{col 54}{space 4} .4572062{col 67}{space 3} .6922638
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      5.77
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0056
{txt}{col 51}R-squared{col 67}= {res}    0.9148
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9132
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1090
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6446

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2218334{col 26}{space 2} .0921815{col 37}{space 1}    2.41{col 46}{space 3}0.020{col 54}{space 4} .0365877{col 67}{space 3} .4070791
{txt}log_C1_L3_sd {c |}{col 14}{res}{space 2} .0751295{col 26}{space 2} .0267148{col 37}{space 1}    2.81{col 46}{space 3}0.007{col 54}{space 4} .0214441{col 67}{space 3} .1288149
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6001565{col 26}{space 2} .1028898{col 37}{space 1}    5.83{col 46}{space 3}0.000{col 54}{space 4} .3933917{col 67}{space 3} .8069213
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.96
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0613
{txt}{col 51}R-squared{col 67}= {res}    0.9142
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9126
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1030
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6468

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .223916{col 26}{space 2} .0930528{col 37}{space 1}    2.41{col 46}{space 3}0.020{col 54}{space 4} .0369194{col 67}{space 3} .4109127
{txt}log_C2_L3_sd {c |}{col 14}{res}{space 2} .0635701{col 26}{space 2} .0473934{col 37}{space 1}    1.34{col 46}{space 3}0.186{col 54}{space 4}-.0316706{col 67}{space 3} .1588107
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6190173{col 26}{space 2} .1630188{col 37}{space 1}    3.80{col 46}{space 3}0.000{col 54}{space 4} .2914187{col 67}{space 3} .9466159
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      4.25
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0199
{txt}{col 51}R-squared{col 67}= {res}    0.9153
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9136
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1139
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6428

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .221712{col 26}{space 2} .0942419{col 37}{space 1}    2.35{col 46}{space 3}0.023{col 54}{space 4} .0323258{col 67}{space 3} .4110983
{txt}log_C3_L3_sd {c |}{col 14}{res}{space 2} .0971382{col 26}{space 2} .0424734{col 37}{space 1}    2.29{col 46}{space 3}0.027{col 54}{space 4} .0117847{col 67}{space 3} .1824917
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .544315{col 26}{space 2} .1364222{col 37}{space 1}    3.99{col 46}{space 3}0.000{col 54}{space 4} .2701642{col 67}{space 3} .8184657
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.67
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0326
{txt}{col 51}R-squared{col 67}= {res}    0.9150
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9133
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1107
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6440

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}   .22399{col 26}{space 2} .0943108{col 37}{space 1}    2.38{col 46}{space 3}0.022{col 54}{space 4} .0344654{col 67}{space 3} .4135147
{txt}log_C4_L3_sd {c |}{col 14}{res}{space 2} .0838224{col 26}{space 2} .0399158{col 37}{space 1}    2.10{col 46}{space 3}0.041{col 54}{space 4} .0036085{col 67}{space 3} .1640363
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5840462{col 26}{space 2} .1322912{col 37}{space 1}    4.41{col 46}{space 3}0.000{col 54}{space 4} .3181971{col 67}{space 3} .8498953
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.77
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0301
{txt}{col 51}R-squared{col 67}= {res}    0.9144
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9128
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1051
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6460

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}   .21297{col 26}{space 2} .0909305{col 37}{space 1}    2.34{col 46}{space 3}0.023{col 54}{space 4} .0302383{col 67}{space 3} .3957017
{txt}log_C5_L3_sd {c |}{col 14}{res}{space 2}  .069961{col 26}{space 2}  .035896{col 37}{space 1}    1.95{col 46}{space 3}0.057{col 54}{space 4}-.0021746{col 67}{space 3} .1420967
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6145006{col 26}{space 2} .1197348{col 37}{space 1}    5.13{col 46}{space 3}0.000{col 54}{space 4} .3738845{col 67}{space 3} .8551167
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      4.69
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0136
{txt}{col 51}R-squared{col 67}= {res}    0.9155
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9139
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1166
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6418

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .209626{col 26}{space 2} .0885162{col 37}{space 1}    2.37{col 46}{space 3}0.022{col 54}{space 4}  .031746{col 67}{space 3}  .387506
{txt}log_C6_L3_sd {c |}{col 14}{res}{space 2} .1172671{col 26}{space 2} .0488597{col 37}{space 1}    2.40{col 46}{space 3}0.020{col 54}{space 4} .0190799{col 67}{space 3} .2154543
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5606775{col 26}{space 2} .1242169{col 37}{space 1}    4.51{col 46}{space 3}0.000{col 54}{space 4} .3110543{col 67}{space 3} .8103007
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      6.23
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0039
{txt}{col 51}R-squared{col 67}= {res}    0.9145
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9129
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1060
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6457

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2128282{col 26}{space 2} .0962382{col 37}{space 1}    2.21{col 46}{space 3}0.032{col 54}{space 4} .0194302{col 67}{space 3} .4062261
{txt}log_C7_L3_sd {c |}{col 14}{res}{space 2} .0953504{col 26}{space 2} .0501827{col 37}{space 1}    1.90{col 46}{space 3}0.063{col 54}{space 4}-.0054955{col 67}{space 3} .1961963
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5730906{col 26}{space 2} .1064664{col 37}{space 1}    5.38{col 46}{space 3}0.000{col 54}{space 4} .3591383{col 67}{space 3} .7870429
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: log_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}      6.08
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0173
{txt}{col 51}R-squared{col 67}= {res}    0.9133
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9116
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0932
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6502

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2275936{col 26}{space 2} .0923326{col 37}{space 1}    2.46{col 46}{space 3}0.017{col 54}{space 4} .0420443{col 67}{space 3} .4131429
{txt}log_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .7510461{col 26}{space 2} .0769653{col 37}{space 1}    9.76{col 46}{space 3}0.000{col 54}{space 4} .5963786{col 67}{space 3} .9057136
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)

{com}. 
.         ** Calculate RCME **
.         
. forvalues q = 1(1)8 {c -(} 
{txt}  2{com}.         gen rmse_C`q'_log = . 
{txt}  3{com}.         egen aux_rmse_`q' = sum(v_e_`q'^2) if v_e_`q' != .  // empty vector RCME
{txt}  4{com}.         replace rmse_C`q'_log = (aux_rmse_`q'/4200)^0.5 
{txt}  5{com}.         
.         replace v_e_`q' = . 
{txt}  6{com}. {c )-}
{txt}(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)

{com}. 
. quietly drop aux_rmse_* err_C*
{txt}
{com}. 
.         ************************ compare RCME *****************************
. sum rmse_C*

{txt}    Variable {c |}        Obs        Mean    Std. dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 1}rmse_C1_log {c |}{res}      4,200    1.550189           0   1.550189   1.550189
{txt}{space 1}rmse_C2_log {c |}{res}      4,200    1.535627           0   1.535627   1.535627
{txt}{space 1}rmse_C3_log {c |}{res}      4,200    1.468281           0   1.468281   1.468281
{txt}{space 1}rmse_C4_log {c |}{res}      4,200    1.472919           0   1.472919   1.472919
{txt}{space 1}rmse_C5_log {c |}{res}      4,200    1.523507           0   1.523507   1.523507
{txt}{hline 13}{c +}{hline 57}
{space 1}rmse_C6_log {c |}{res}      4,200    1.421607           0   1.421607   1.421607
{txt}{space 1}rmse_C7_log {c |}{res}      4,200    1.475812           0   1.475812   1.475812
{txt}{space 1}rmse_C8_log {c |}{res}      4,200    1.641588           0   1.641588   1.641588
{txt}
{com}. 
. 
. 
.     ** Results for ihs transformed data **
.         
.         
. forvalues i = 1(1)7 {c -(}   // loop over countries 
{txt}  2{com}.         forvalues q = 1(1)8 {c -(} // loop over directions 
{txt}  3{com}.         
.                 reghdfe  ihs_csd    ihs_L3_sd   ihs_C`q'_L3_sd                                                          if cell <= 50 & year == 2014 & ccode != `i', absorb(cell ccode month) vce(cluster cell) //  excl. country i
{txt}  4{com}.                 estimates store ihs_C`q'
{txt}  5{com}.                 predict ihs_C`q'_`i', xb
{txt}  6{com}.                 gen err_C`q'_`i' =  ihs_csd - ihs_C`q'_`i'                                                                              if cell <= 50 & year == 2014  // note: residuals option in reghdfe is faster, but does not predict out-of-sample 
{txt}  7{com}.                 replace v_e_`q' = err_C`q'_`i' if ccode == `i' // copy to empty vector 
{txt}  8{com}.                 /* check predictions 
>                 sum err_C`q'_`i' if ccode == 1 // 600
>                 sum err_C`q'_`i' // 4,200 
>                 */ 
.         {c )-}
{txt}  9{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.20
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8841
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8819
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1737
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8132

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .304812{col 26}{space 2} .0764127{col 37}{space 1}    3.99{col 46}{space 3}0.000{col 54}{space 4} .1512549{col 67}{space 3}  .458369
{txt}ihs_C1_L3_sd {c |}{col 14}{res}{space 2} .1233678{col 26}{space 2} .0444534{col 37}{space 1}    2.78{col 46}{space 3}0.008{col 54}{space 4} .0340352{col 67}{space 3} .2127003
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4688752{col 26}{space 2} .1106569{col 37}{space 1}    4.24{col 46}{space 3}0.000{col 54}{space 4} .2465019{col 67}{space 3} .6912485
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.94
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0005
{txt}{col 51}R-squared{col 67}= {res}    0.8841
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8818
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1731
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8134

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3112496{col 26}{space 2} .0740902{col 37}{space 1}    4.20{col 46}{space 3}0.000{col 54}{space 4} .1623599{col 67}{space 3} .4601394
{txt}ihs_C2_L3_sd {c |}{col 14}{res}{space 2} .1405897{col 26}{space 2} .0615422{col 37}{space 1}    2.28{col 46}{space 3}0.027{col 54}{space 4}  .016916{col 67}{space 3} .2642633
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4069008{col 26}{space 2} .1793541{col 37}{space 1}    2.27{col 46}{space 3}0.028{col 54}{space 4} .0464752{col 67}{space 3} .7673263
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.97
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8858
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8836
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1856
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8073

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}   .30564{col 26}{space 2} .0740232{col 37}{space 1}    4.13{col 46}{space 3}0.000{col 54}{space 4} .1568849{col 67}{space 3} .4543951
{txt}ihs_C3_L3_sd {c |}{col 14}{res}{space 2} .1719318{col 26}{space 2} .0620025{col 37}{space 1}    2.77{col 46}{space 3}0.008{col 54}{space 4} .0473332{col 67}{space 3} .2965304
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3302805{col 26}{space 2} .1749719{col 37}{space 1}    1.89{col 46}{space 3}0.065{col 54}{space 4}-.0213388{col 67}{space 3} .6818998
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.53
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8856
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8834
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1839
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8081

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3111071{col 26}{space 2} .0742019{col 37}{space 1}    4.19{col 46}{space 3}0.000{col 54}{space 4} .1619927{col 67}{space 3} .4602215
{txt}ihs_C4_L3_sd {c |}{col 14}{res}{space 2} .1608337{col 26}{space 2} .0595871{col 37}{space 1}    2.70{col 46}{space 3}0.010{col 54}{space 4} .0410889{col 67}{space 3} .2805786
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3773968{col 26}{space 2} .1661166{col 37}{space 1}    2.27{col 46}{space 3}0.028{col 54}{space 4}  .043573{col 67}{space 3} .7112206
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.09
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8844
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8822
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1756
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8122

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2880323{col 26}{space 2} .0751721{col 37}{space 1}    3.83{col 46}{space 3}0.000{col 54}{space 4} .1369682{col 67}{space 3} .4390963
{txt}ihs_C5_L3_sd {c |}{col 14}{res}{space 2} .1388279{col 26}{space 2} .0475523{col 37}{space 1}    2.92{col 46}{space 3}0.005{col 54}{space 4} .0432681{col 67}{space 3} .2343877
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4337103{col 26}{space 2} .1242712{col 37}{space 1}    3.49{col 46}{space 3}0.001{col 54}{space 4} .1839781{col 67}{space 3} .6834426
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.13
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8866
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8844
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1914
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8044

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2839555{col 26}{space 2} .0714726{col 37}{space 1}    3.97{col 46}{space 3}0.000{col 54}{space 4} .1403258{col 67}{space 3} .4275851
{txt}ihs_C6_L3_sd {c |}{col 14}{res}{space 2}  .197185{col 26}{space 2} .0665309{col 37}{space 1}    2.96{col 46}{space 3}0.005{col 54}{space 4} .0634861{col 67}{space 3} .3308839
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3869273{col 26}{space 2} .1347444{col 37}{space 1}    2.87{col 46}{space 3}0.006{col 54}{space 4} .1161484{col 67}{space 3} .6577062
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.57
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8844
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8822
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1757
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8122

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .287393{col 26}{space 2} .0786074{col 37}{space 1}    3.66{col 46}{space 3}0.001{col 54}{space 4} .1294256{col 67}{space 3} .4453605
{txt}ihs_C7_L3_sd {c |}{col 14}{res}{space 2}  .174074{col 26}{space 2} .0653229{col 37}{space 1}    2.66{col 46}{space 3}0.010{col 54}{space 4} .0428027{col 67}{space 3} .3053454
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3811335{col 26}{space 2} .1422847{col 37}{space 1}    2.68{col 46}{space 3}0.010{col 54}{space 4} .0952017{col 67}{space 3} .6670653
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: ihs_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     17.39
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8796
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8773
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1414
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8288

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3192016{col 26}{space 2} .0765555{col 37}{space 1}    4.17{col 46}{space 3}0.000{col 54}{space 4} .1653576{col 67}{space 3} .4730457
{txt}ihs_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .7221753{col 26}{space 2} .0671127{col 37}{space 1}   10.76{col 46}{space 3}0.000{col 54}{space 4} .5873073{col 67}{space 3} .8570433
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.83
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8849
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8827
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1788
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7864

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3279222{col 26}{space 2} .1030099{col 37}{space 1}    3.18{col 46}{space 3}0.003{col 54}{space 4} .1209159{col 67}{space 3} .5349284
{txt}ihs_C1_L3_sd {c |}{col 14}{res}{space 2} .0901524{col 26}{space 2} .0378662{col 37}{space 1}    2.38{col 46}{space 3}0.021{col 54}{space 4} .0140575{col 67}{space 3} .1662474
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4638005{col 26}{space 2} .1059644{col 37}{space 1}    4.38{col 46}{space 3}0.000{col 54}{space 4}  .250857{col 67}{space 3}  .676744
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      5.60
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0064
{txt}{col 51}R-squared{col 67}= {res}    0.8838
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8815
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1706
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7903

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3348246{col 26}{space 2}  .101011{col 37}{space 1}    3.31{col 46}{space 3}0.002{col 54}{space 4} .1318353{col 67}{space 3} .5378138
{txt}ihs_C2_L3_sd {c |}{col 14}{res}{space 2} .0785194{col 26}{space 2} .0513975{col 37}{space 1}    1.53{col 46}{space 3}0.133{col 54}{space 4}-.0247676{col 67}{space 3} .1818065
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4733661{col 26}{space 2} .1791517{col 37}{space 1}    2.64{col 46}{space 3}0.011{col 54}{space 4} .1133473{col 67}{space 3}  .833385
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      6.16
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0041
{txt}{col 51}R-squared{col 67}= {res}    0.8853
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8831
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1812
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7852

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3304399{col 26}{space 2} .0993631{col 37}{space 1}    3.33{col 46}{space 3}0.002{col 54}{space 4} .1307623{col 67}{space 3} .5301174
{txt}ihs_C3_L3_sd {c |}{col 14}{res}{space 2} .1152499{col 26}{space 2} .0542442{col 37}{space 1}    2.12{col 46}{space 3}0.039{col 54}{space 4} .0062422{col 67}{space 3} .2242576
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3891904{col 26}{space 2} .1709686{col 37}{space 1}    2.28{col 46}{space 3}0.027{col 54}{space 4} .0456163{col 67}{space 3} .7327646
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      5.72
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0059
{txt}{col 51}R-squared{col 67}= {res}    0.8851
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8829
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1803
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7857

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3344793{col 26}{space 2} .1000924{col 37}{space 1}    3.34{col 46}{space 3}0.002{col 54}{space 4} .1333361{col 67}{space 3} .5356226
{txt}ihs_C4_L3_sd {c |}{col 14}{res}{space 2} .1061899{col 26}{space 2}  .052121{col 37}{space 1}    2.04{col 46}{space 3}0.047{col 54}{space 4} .0014489{col 67}{space 3}  .210931
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4243216{col 26}{space 2} .1683988{col 37}{space 1}    2.52{col 46}{space 3}0.015{col 54}{space 4} .0859116{col 67}{space 3} .7627317
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.07
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0009
{txt}{col 51}R-squared{col 67}= {res}    0.8844
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8822
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1752
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7881

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3189918{col 26}{space 2} .1009528{col 37}{space 1}    3.16{col 46}{space 3}0.003{col 54}{space 4} .1161196{col 67}{space 3} .5218639
{txt}ihs_C5_L3_sd {c |}{col 14}{res}{space 2} .0897551{col 26}{space 2} .0363498{col 37}{space 1}    2.47{col 46}{space 3}0.017{col 54}{space 4} .0167074{col 67}{space 3} .1628028
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4679852{col 26}{space 2} .1159968{col 37}{space 1}    4.03{col 46}{space 3}0.000{col 54}{space 4} .2348809{col 67}{space 3} .7010895
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.02
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0010
{txt}{col 51}R-squared{col 67}= {res}    0.8855
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8833
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1828
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7844

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3164145{col 26}{space 2} .0989558{col 37}{space 1}    3.20{col 46}{space 3}0.002{col 54}{space 4} .1175554{col 67}{space 3} .5152737
{txt}ihs_C6_L3_sd {c |}{col 14}{res}{space 2} .1317461{col 26}{space 2} .0571192{col 37}{space 1}    2.31{col 46}{space 3}0.025{col 54}{space 4} .0169608{col 67}{space 3} .2465315
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4314767{col 26}{space 2}  .129389{col 37}{space 1}    3.33{col 46}{space 3}0.002{col 54}{space 4} .1714598{col 67}{space 3} .6914936
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.44
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0007
{txt}{col 51}R-squared{col 67}= {res}    0.8856
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8834
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1835
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7841

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3151722{col 26}{space 2} .1035047{col 37}{space 1}    3.05{col 46}{space 3}0.004{col 54}{space 4} .1071718{col 67}{space 3} .5231727
{txt}ihs_C7_L3_sd {c |}{col 14}{res}{space 2} .1466271{col 26}{space 2} .0617029{col 37}{space 1}    2.38{col 46}{space 3}0.021{col 54}{space 4} .0226305{col 67}{space 3} .2706237
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3665595{col 26}{space 2} .1448722{col 37}{space 1}    2.53{col 46}{space 3}0.015{col 54}{space 4}  .075428{col 67}{space 3} .6576911
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: ihs_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     10.83
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0019
{txt}{col 51}R-squared{col 67}= {res}    0.8823
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8800
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1597
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7953

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3376092{col 26}{space 2} .1025986{col 37}{space 1}    3.29{col 46}{space 3}0.002{col 54}{space 4} .1314296{col 67}{space 3} .5437888
{txt}ihs_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .6487181{col 26}{space 2} .0861643{col 37}{space 1}    7.53{col 46}{space 3}0.000{col 54}{space 4} .4755645{col 67}{space 3} .8218718
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     16.14
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8848
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8826
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1875
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7693

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3382355{col 26}{space 2} .0711897{col 37}{space 1}    4.75{col 46}{space 3}0.000{col 54}{space 4} .1951743{col 67}{space 3} .4812967
{txt}ihs_C1_L3_sd {c |}{col 14}{res}{space 2} .0965502{col 26}{space 2} .0384352{col 37}{space 1}    2.51{col 46}{space 3}0.015{col 54}{space 4} .0193117{col 67}{space 3} .1737886
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4528012{col 26}{space 2} .0959518{col 37}{space 1}    4.72{col 46}{space 3}0.000{col 54}{space 4} .2599787{col 67}{space 3} .6456236
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.80
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8850
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8828
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1888
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7687

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3448465{col 26}{space 2} .0709798{col 37}{space 1}    4.86{col 46}{space 3}0.000{col 54}{space 4} .2022074{col 67}{space 3} .4874857
{txt}ihs_C2_L3_sd {c |}{col 14}{res}{space 2}  .113131{col 26}{space 2} .0594558{col 37}{space 1}    1.90{col 46}{space 3}0.063{col 54}{space 4}-.0063498{col 67}{space 3} .2326119
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3994897{col 26}{space 2} .1668767{col 37}{space 1}    2.39{col 46}{space 3}0.021{col 54}{space 4} .0641384{col 67}{space 3}  .734841
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.85
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8860
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8838
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1960
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7653

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3413591{col 26}{space 2} .0707349{col 37}{space 1}    4.83{col 46}{space 3}0.000{col 54}{space 4}  .199212{col 67}{space 3} .4835063
{txt}ihs_C3_L3_sd {c |}{col 14}{res}{space 2}  .135649{col 26}{space 2} .0616635{col 37}{space 1}    2.20{col 46}{space 3}0.033{col 54}{space 4} .0117316{col 67}{space 3} .2595664
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3479103{col 26}{space 2} .1700478{col 37}{space 1}    2.05{col 46}{space 3}0.046{col 54}{space 4} .0061865{col 67}{space 3} .6896342
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.67
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8852
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8830
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1905
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7679

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3444067{col 26}{space 2} .0713012{col 37}{space 1}    4.83{col 46}{space 3}0.000{col 54}{space 4} .2011217{col 67}{space 3} .4876918
{txt}ihs_C4_L3_sd {c |}{col 14}{res}{space 2} .1189695{col 26}{space 2} .0605638{col 37}{space 1}    1.96{col 46}{space 3}0.055{col 54}{space 4}-.0027379{col 67}{space 3}  .240677
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3998215{col 26}{space 2} .1635465{col 37}{space 1}    2.44{col 46}{space 3}0.018{col 54}{space 4} .0711624{col 67}{space 3} .7284805
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     15.97
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8847
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8825
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1869
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7696

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3268212{col 26}{space 2} .0743178{col 37}{space 1}    4.40{col 46}{space 3}0.000{col 54}{space 4}  .177474{col 67}{space 3} .4761683
{txt}ihs_C5_L3_sd {c |}{col 14}{res}{space 2}  .109844{col 26}{space 2} .0463427{col 37}{space 1}    2.37{col 46}{space 3}0.022{col 54}{space 4} .0167148{col 67}{space 3} .2029732
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4283517{col 26}{space 2} .1057023{col 37}{space 1}    4.05{col 46}{space 3}0.000{col 54}{space 4} .2159351{col 67}{space 3} .6407684
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     15.54
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8859
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8837
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1951
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7657

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3271564{col 26}{space 2} .0733875{col 37}{space 1}    4.46{col 46}{space 3}0.000{col 54}{space 4} .1796788{col 67}{space 3}  .474634
{txt}ihs_C6_L3_sd {c |}{col 14}{res}{space 2} .1557963{col 26}{space 2} .0665485{col 37}{space 1}    2.34{col 46}{space 3}0.023{col 54}{space 4}  .022062{col 67}{space 3} .2895306
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3884629{col 26}{space 2} .1228922{col 37}{space 1}    3.16{col 46}{space 3}0.003{col 54}{space 4} .1415018{col 67}{space 3}  .635424
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     16.13
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8869
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8847
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2023
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7623

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3239443{col 26}{space 2} .0760429{col 37}{space 1}    4.26{col 46}{space 3}0.000{col 54}{space 4} .1711304{col 67}{space 3} .4767582
{txt}ihs_C7_L3_sd {c |}{col 14}{res}{space 2} .1909545{col 26}{space 2} .0767328{col 37}{space 1}    2.49{col 46}{space 3}0.016{col 54}{space 4} .0367542{col 67}{space 3} .3451548
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2777001{col 26}{space 2} .1541817{col 37}{space 1}    1.80{col 46}{space 3}0.078{col 54}{space 4}-.0321397{col 67}{space 3} .5875399
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: ihs_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     24.74
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8818
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8795
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1663
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7791

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3533224{col 26}{space 2} .0710333{col 37}{space 1}    4.97{col 46}{space 3}0.000{col 54}{space 4} .2105756{col 67}{space 3} .4960692
{txt}ihs_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .6464738{col 26}{space 2} .0604125{col 37}{space 1}   10.70{col 46}{space 3}0.000{col 54}{space 4} .5250703{col 67}{space 3} .7678773
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.04
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8917
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8896
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1461
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7977

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2877535{col 26}{space 2} .0796111{col 37}{space 1}    3.61{col 46}{space 3}0.001{col 54}{space 4} .1277689{col 67}{space 3} .4477381
{txt}ihs_C1_L3_sd {c |}{col 14}{res}{space 2} .0872978{col 26}{space 2} .0353639{col 37}{space 1}    2.47{col 46}{space 3}0.017{col 54}{space 4} .0162314{col 67}{space 3} .1583642
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5478834{col 26}{space 2} .1071646{col 37}{space 1}    5.11{col 46}{space 3}0.000{col 54}{space 4} .3325282{col 67}{space 3} .7632386
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.36
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0016
{txt}{col 51}R-squared{col 67}= {res}    0.8914
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8893
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1435
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7989

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2924617{col 26}{space 2} .0780457{col 37}{space 1}    3.75{col 46}{space 3}0.000{col 54}{space 4}  .135623{col 67}{space 3} .4493004
{txt}ihs_C2_L3_sd {c |}{col 14}{res}{space 2} .0941254{col 26}{space 2} .0557719{col 37}{space 1}    1.69{col 46}{space 3}0.098{col 54}{space 4}-.0179525{col 67}{space 3} .2062032
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5214616{col 26}{space 2} .1865829{col 37}{space 1}    2.79{col 46}{space 3}0.007{col 54}{space 4} .1465093{col 67}{space 3}  .896414
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.70
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0012
{txt}{col 51}R-squared{col 67}= {res}    0.8935
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8914
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1600
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7911

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2869442{col 26}{space 2} .0770624{col 37}{space 1}    3.72{col 46}{space 3}0.001{col 54}{space 4} .1320816{col 67}{space 3} .4418068
{txt}ihs_C3_L3_sd {c |}{col 14}{res}{space 2} .1410195{col 26}{space 2} .0585044{col 37}{space 1}    2.41{col 46}{space 3}0.020{col 54}{space 4} .0234505{col 67}{space 3} .2585885
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4023406{col 26}{space 2} .1811625{col 37}{space 1}    2.22{col 46}{space 3}0.031{col 54}{space 4}  .038281{col 67}{space 3} .7664002
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.26
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0017
{txt}{col 51}R-squared{col 67}= {res}    0.8929
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8909
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1555
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7932

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2903159{col 26}{space 2} .0778503{col 37}{space 1}    3.73{col 46}{space 3}0.000{col 54}{space 4}   .13387{col 67}{space 3} .4467619
{txt}ihs_C4_L3_sd {c |}{col 14}{res}{space 2}  .122193{col 26}{space 2} .0535576{col 37}{space 1}    2.28{col 46}{space 3}0.027{col 54}{space 4}  .014565{col 67}{space 3}  .229821
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4659804{col 26}{space 2} .1670176{col 37}{space 1}    2.79{col 46}{space 3}0.007{col 54}{space 4}  .130346{col 67}{space 3} .8016149
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.93
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8921
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8900
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1493
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7962

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2720275{col 26}{space 2} .0798474{col 37}{space 1}    3.41{col 46}{space 3}0.001{col 54}{space 4} .1115681{col 67}{space 3}  .432487
{txt}ihs_C5_L3_sd {c |}{col 14}{res}{space 2} .1064721{col 26}{space 2} .0375432{col 37}{space 1}    2.84{col 46}{space 3}0.007{col 54}{space 4} .0310261{col 67}{space 3}  .181918
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5118583{col 26}{space 2} .1147983{col 37}{space 1}    4.46{col 46}{space 3}0.000{col 54}{space 4} .2811625{col 67}{space 3} .7425542
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.66
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8938
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8917
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1622
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7901

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2714793{col 26}{space 2} .0759582{col 37}{space 1}    3.57{col 46}{space 3}0.001{col 54}{space 4} .1188356{col 67}{space 3} .4241231
{txt}ihs_C6_L3_sd {c |}{col 14}{res}{space 2} .1626426{col 26}{space 2} .0597948{col 37}{space 1}    2.72{col 46}{space 3}0.009{col 54}{space 4} .0424805{col 67}{space 3} .2828048
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4462436{col 26}{space 2} .1331877{col 37}{space 1}    3.35{col 46}{space 3}0.002{col 54}{space 4}  .178593{col 67}{space 3} .7138942
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.94
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8924
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8904
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1516
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7951

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2751026{col 26}{space 2}  .081039{col 37}{space 1}    3.39{col 46}{space 3}0.001{col 54}{space 4} .1122487{col 67}{space 3} .4379566
{txt}ihs_C7_L3_sd {c |}{col 14}{res}{space 2} .1556243{col 26}{space 2} .0699064{col 37}{space 1}    2.23{col 46}{space 3}0.031{col 54}{space 4} .0151422{col 67}{space 3} .2961065
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4139385{col 26}{space 2} .1608184{col 37}{space 1}    2.57{col 46}{space 3}0.013{col 54}{space 4} .0907618{col 67}{space 3} .7371152
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: ihs_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     14.26
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8892
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8871
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1262
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8068

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2989689{col 26}{space 2} .0791686{col 37}{space 1}    3.78{col 46}{space 3}0.000{col 54}{space 4} .1398737{col 67}{space 3} .4580642
{txt}ihs_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .7414652{col 26}{space 2} .0721126{col 37}{space 1}   10.28{col 46}{space 3}0.000{col 54}{space 4} .5965495{col 67}{space 3} .8863809
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.80
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8741
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8717
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1654
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8345

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3108584{col 26}{space 2} .0822886{col 37}{space 1}    3.78{col 46}{space 3}0.000{col 54}{space 4} .1454932{col 67}{space 3} .4762235
{txt}ihs_C1_L3_sd {c |}{col 14}{res}{space 2} .1108351{col 26}{space 2} .0424768{col 37}{space 1}    2.61{col 46}{space 3}0.012{col 54}{space 4} .0254748{col 67}{space 3} .1961953
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .445855{col 26}{space 2} .1190383{col 37}{space 1}    3.75{col 46}{space 3}0.000{col 54}{space 4} .2066386{col 67}{space 3} .6850714
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.32
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0017
{txt}{col 51}R-squared{col 67}= {res}    0.8741
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8716
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1649
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8347

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3137526{col 26}{space 2} .0820812{col 37}{space 1}    3.82{col 46}{space 3}0.000{col 54}{space 4} .1488043{col 67}{space 3} .4787009
{txt}ihs_C2_L3_sd {c |}{col 14}{res}{space 2} .1209534{col 26}{space 2} .0600521{col 37}{space 1}    2.01{col 46}{space 3}0.050{col 54}{space 4} .0002742{col 67}{space 3} .2416326
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4125414{col 26}{space 2} .1899339{col 37}{space 1}    2.17{col 46}{space 3}0.035{col 54}{space 4} .0308549{col 67}{space 3} .7942279
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.51
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0007
{txt}{col 51}R-squared{col 67}= {res}    0.8764
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8740
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1805
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8269

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3058813{col 26}{space 2} .0809525{col 37}{space 1}    3.78{col 46}{space 3}0.000{col 54}{space 4} .1432011{col 67}{space 3} .4685614
{txt}ihs_C3_L3_sd {c |}{col 14}{res}{space 2}  .161235{col 26}{space 2} .0596191{col 37}{space 1}    2.70{col 46}{space 3}0.009{col 54}{space 4}  .041426{col 67}{space 3}  .281044
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3140158{col 26}{space 2} .1780129{col 37}{space 1}    1.76{col 46}{space 3}0.084{col 54}{space 4}-.0437145{col 67}{space 3}  .671746
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.79
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0012
{txt}{col 51}R-squared{col 67}= {res}    0.8756
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8732
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1751
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8296

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3063505{col 26}{space 2}  .081092{col 37}{space 1}    3.78{col 46}{space 3}0.000{col 54}{space 4}   .14339{col 67}{space 3} .4693111
{txt}ihs_C4_L3_sd {c |}{col 14}{res}{space 2} .1431821{col 26}{space 2} .0562965{col 37}{space 1}    2.54{col 46}{space 3}0.014{col 54}{space 4}   .03005{col 67}{space 3} .2563141
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3798683{col 26}{space 2}  .167908{col 37}{space 1}    2.26{col 46}{space 3}0.028{col 54}{space 4} .0424446{col 67}{space 3}  .717292
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.57
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8745
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8721
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1681
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8331

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2922654{col 26}{space 2} .0819956{col 37}{space 1}    3.56{col 46}{space 3}0.001{col 54}{space 4} .1274891{col 67}{space 3} .4570417
{txt}ihs_C5_L3_sd {c |}{col 14}{res}{space 2} .1271676{col 26}{space 2} .0467863{col 37}{space 1}    2.72{col 46}{space 3}0.009{col 54}{space 4}  .033147{col 67}{space 3} .2211882
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4222661{col 26}{space 2} .1323434{col 37}{space 1}    3.19{col 46}{space 3}0.002{col 54}{space 4} .1563121{col 67}{space 3}   .68822
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.52
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8767
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8744
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1828
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8257

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2887548{col 26}{space 2} .0785325{col 37}{space 1}    3.68{col 46}{space 3}0.001{col 54}{space 4} .1309379{col 67}{space 3} .4465717
{txt}ihs_C6_L3_sd {c |}{col 14}{res}{space 2} .1871147{col 26}{space 2} .0678413{col 37}{space 1}    2.76{col 46}{space 3}0.008{col 54}{space 4} .0507824{col 67}{space 3} .3234469
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3640932{col 26}{space 2} .1455176{col 37}{space 1}    2.50{col 46}{space 3}0.016{col 54}{space 4} .0716645{col 67}{space 3} .6565218
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.59
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8752
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8728
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1724
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8310

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2865566{col 26}{space 2} .0851332{col 37}{space 1}    3.37{col 46}{space 3}0.001{col 54}{space 4}  .115475{col 67}{space 3} .4576381
{txt}ihs_C7_L3_sd {c |}{col 14}{res}{space 2} .1794604{col 26}{space 2} .0706341{col 37}{space 1}    2.54{col 46}{space 3}0.014{col 54}{space 4}  .037516{col 67}{space 3} .3214049
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3317889{col 26}{space 2} .1580293{col 37}{space 1}    2.10{col 46}{space 3}0.041{col 54}{space 4} .0142172{col 67}{space 3} .6493606
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: ihs_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     14.72
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8702
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8678
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1396
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8471

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3176424{col 26}{space 2} .0827892{col 37}{space 1}    3.84{col 46}{space 3}0.000{col 54}{space 4} .1512713{col 67}{space 3} .4840135
{txt}ihs_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .6896748{col 26}{space 2} .0736779{col 37}{space 1}    9.36{col 46}{space 3}0.000{col 54}{space 4} .5416136{col 67}{space 3} .8377359
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.11
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8823
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8800
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1251
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7608

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2888166{col 26}{space 2} .0795186{col 37}{space 1}    3.63{col 46}{space 3}0.001{col 54}{space 4}  .129018{col 67}{space 3} .4486152
{txt}ihs_C1_L3_sd {c |}{col 14}{res}{space 2} .0707292{col 26}{space 2} .0367344{col 37}{space 1}    1.93{col 46}{space 3}0.060{col 54}{space 4}-.0030914{col 67}{space 3} .1445498
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .523641{col 26}{space 2} .0917478{col 37}{space 1}    5.71{col 46}{space 3}0.000{col 54}{space 4} .3392669{col 67}{space 3} .7080151
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.24
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0008
{txt}{col 51}R-squared{col 67}= {res}    0.8836
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8814
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1350
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7565

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2847733{col 26}{space 2} .0745371{col 37}{space 1}    3.82{col 46}{space 3}0.000{col 54}{space 4} .1349854{col 67}{space 3} .4345612
{txt}ihs_C2_L3_sd {c |}{col 14}{res}{space 2} .1105106{col 26}{space 2} .0517658{col 37}{space 1}    2.13{col 46}{space 3}0.038{col 54}{space 4} .0064834{col 67}{space 3} .2145379
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4285632{col 26}{space 2} .1422104{col 37}{space 1}    3.01{col 46}{space 3}0.004{col 54}{space 4} .1427808{col 67}{space 3} .7143456
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.27
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8865
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8843
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1560
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7472

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2780415{col 26}{space 2} .0739846{col 37}{space 1}    3.76{col 46}{space 3}0.000{col 54}{space 4} .1293639{col 67}{space 3} .4267191
{txt}ihs_C3_L3_sd {c |}{col 14}{res}{space 2}  .158165{col 26}{space 2} .0579048{col 37}{space 1}    2.73{col 46}{space 3}0.009{col 54}{space 4}  .041801{col 67}{space 3} .2745289
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3181775{col 26}{space 2} .1494889{col 37}{space 1}    2.13{col 46}{space 3}0.038{col 54}{space 4} .0177684{col 67}{space 3} .6185867
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.73
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8867
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8845
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1576
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7466

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2767685{col 26}{space 2} .0738267{col 37}{space 1}    3.75{col 46}{space 3}0.000{col 54}{space 4} .1284083{col 67}{space 3} .4251288
{txt}ihs_C4_L3_sd {c |}{col 14}{res}{space 2} .1524037{col 26}{space 2} .0526197{col 37}{space 1}    2.90{col 46}{space 3}0.006{col 54}{space 4} .0466604{col 67}{space 3} .2581471
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .354149{col 26}{space 2} .1312424{col 37}{space 1}    2.70{col 46}{space 3}0.010{col 54}{space 4} .0904076{col 67}{space 3} .6178904
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.80
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8842
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8820
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1391
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7547

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2708269{col 26}{space 2} .0775227{col 37}{space 1}    3.49{col 46}{space 3}0.001{col 54}{space 4} .1150392{col 67}{space 3} .4266146
{txt}ihs_C5_L3_sd {c |}{col 14}{res}{space 2} .1152611{col 26}{space 2} .0424063{col 37}{space 1}    2.72{col 46}{space 3}0.009{col 54}{space 4} .0300425{col 67}{space 3} .2004798
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4414665{col 26}{space 2}  .110646{col 37}{space 1}    3.99{col 46}{space 3}0.000{col 54}{space 4} .2191151{col 67}{space 3} .6638178
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.77
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8856
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8834
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1499
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7500

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2704708{col 26}{space 2}   .07258{col 37}{space 1}    3.73{col 46}{space 3}0.001{col 54}{space 4} .1246159{col 67}{space 3} .4163257
{txt}ihs_C6_L3_sd {c |}{col 14}{res}{space 2} .1628244{col 26}{space 2} .0627836{col 37}{space 1}    2.59{col 46}{space 3}0.012{col 54}{space 4}  .036656{col 67}{space 3} .2889929
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4033773{col 26}{space 2} .1226944{col 37}{space 1}    3.29{col 46}{space 3}0.002{col 54}{space 4} .1568137{col 67}{space 3}  .649941
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.32
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8843
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8820
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1395
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7545

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2677357{col 26}{space 2} .0775615{col 37}{space 1}    3.45{col 46}{space 3}0.001{col 54}{space 4} .1118701{col 67}{space 3} .4236013
{txt}ihs_C7_L3_sd {c |}{col 14}{res}{space 2} .1518797{col 26}{space 2} .0566238{col 37}{space 1}    2.68{col 46}{space 3}0.010{col 54}{space 4}   .03809{col 67}{space 3} .2656695
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3783632{col 26}{space 2} .1283781{col 37}{space 1}    2.95{col 46}{space 3}0.005{col 54}{space 4} .1203777{col 67}{space 3} .6363487
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: ihs_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}     14.53
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8805
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8782
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1117
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7665

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2985327{col 26}{space 2} .0783153{col 37}{space 1}    3.81{col 46}{space 3}0.000{col 54}{space 4} .1411523{col 67}{space 3} .4559132
{txt}ihs_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .6676935{col 26}{space 2} .0629543{col 37}{space 1}   10.61{col 46}{space 3}0.000{col 54}{space 4}  .541182{col 67}{space 3}  .794205
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      4.99
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0106
{txt}{col 51}R-squared{col 67}= {res}    0.9142
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9126
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0929
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7180

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2063371{col 26}{space 2} .0936939{col 37}{space 1}    2.20{col 46}{space 3}0.032{col 54}{space 4} .0180522{col 67}{space 3}  .394622
{txt}ihs_C1_L3_sd {c |}{col 14}{res}{space 2} .0689398{col 26}{space 2} .0257645{col 37}{space 1}    2.68{col 46}{space 3}0.010{col 54}{space 4}  .017164{col 67}{space 3} .1207155
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7028144{col 26}{space 2} .1172185{col 37}{space 1}    6.00{col 46}{space 3}0.000{col 54}{space 4} .4672549{col 67}{space 3} .9383738
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.43
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0984
{txt}{col 51}R-squared{col 67}= {res}    0.9138
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9122
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0891
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7196

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2086878{col 26}{space 2} .0952155{col 37}{space 1}    2.19{col 46}{space 3}0.033{col 54}{space 4} .0173451{col 67}{space 3} .4000305
{txt}ihs_C2_L3_sd {c |}{col 14}{res}{space 2} .0631193{col 26}{space 2} .0475488{col 37}{space 1}    1.33{col 46}{space 3}0.191{col 54}{space 4}-.0324337{col 67}{space 3} .1586722
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7104179{col 26}{space 2} .1885023{col 37}{space 1}    3.77{col 46}{space 3}0.000{col 54}{space 4} .3316085{col 67}{space 3} 1.089227
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.39
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0419
{txt}{col 51}R-squared{col 67}= {res}    0.9146
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9130
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0974
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7163

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .207938{col 26}{space 2}  .096126{col 37}{space 1}    2.16{col 46}{space 3}0.035{col 54}{space 4} .0147656{col 67}{space 3} .4011105
{txt}ihs_C3_L3_sd {c |}{col 14}{res}{space 2} .0910478{col 26}{space 2} .0431043{col 37}{space 1}    2.11{col 46}{space 3}0.040{col 54}{space 4} .0044263{col 67}{space 3} .1776692
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6385615{col 26}{space 2} .1624111{col 37}{space 1}    3.93{col 46}{space 3}0.000{col 54}{space 4} .3121841{col 67}{space 3} .9649388
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.88
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0658
{txt}{col 51}R-squared{col 67}= {res}    0.9143
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9126
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0937
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7178

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2101225{col 26}{space 2} .0963158{col 37}{space 1}    2.18{col 46}{space 3}0.034{col 54}{space 4} .0165686{col 67}{space 3} .4036764
{txt}ihs_C4_L3_sd {c |}{col 14}{res}{space 2} .0748636{col 26}{space 2} .0395077{col 37}{space 1}    1.89{col 46}{space 3}0.064{col 54}{space 4}  -.00453{col 67}{space 3} .1542572
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6887172{col 26}{space 2} .1558677{col 37}{space 1}    4.42{col 46}{space 3}0.000{col 54}{space 4} .3754894{col 67}{space 3} 1.001945
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.04
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0567
{txt}{col 51}R-squared{col 67}= {res}    0.9138
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9121
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0887
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7197

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2000616{col 26}{space 2} .0923284{col 37}{space 1}    2.17{col 46}{space 3}0.035{col 54}{space 4} .0145207{col 67}{space 3} .3856024
{txt}ihs_C5_L3_sd {c |}{col 14}{res}{space 2} .0615672{col 26}{space 2} .0351375{col 37}{space 1}    1.75{col 46}{space 3}0.086{col 54}{space 4}-.0090443{col 67}{space 3} .1321786
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7226485{col 26}{space 2} .1379389{col 37}{space 1}    5.24{col 46}{space 3}0.000{col 54}{space 4} .4454498{col 67}{space 3} .9998471
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.75
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0304
{txt}{col 51}R-squared{col 67}= {res}    0.9147
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9131
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0981
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7160

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .1979905{col 26}{space 2} .0903643{col 37}{space 1}    2.19{col 46}{space 3}0.033{col 54}{space 4} .0163966{col 67}{space 3} .3795844
{txt}ihs_C6_L3_sd {c |}{col 14}{res}{space 2} .1042987{col 26}{space 2} .0479966{col 37}{space 1}    2.17{col 46}{space 3}0.035{col 54}{space 4}  .007846{col 67}{space 3} .2007515
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6669672{col 26}{space 2} .1435952{col 37}{space 1}    4.64{col 46}{space 3}0.000{col 54}{space 4} .3784018{col 67}{space 3} .9555325
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      6.11
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0043
{txt}{col 51}R-squared{col 67}= {res}    0.9140
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9123
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0906
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7190

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .1990034{col 26}{space 2} .0976106{col 37}{space 1}    2.04{col 46}{space 3}0.047{col 54}{space 4} .0028476{col 67}{space 3} .3951592
{txt}ihs_C7_L3_sd {c |}{col 14}{res}{space 2} .0921582{col 26}{space 2} .0493455{col 37}{space 1}    1.87{col 46}{space 3}0.068{col 54}{space 4}-.0070053{col 67}{space 3} .1913217
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6646107{col 26}{space 2} .1147644{col 37}{space 1}    5.79{col 46}{space 3}0.000{col 54}{space 4} .4339829{col 67}{space 3} .8952385
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}{txt}note: ihs_C8_L3_sd omitted because of collinearity
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   1{txt},{res}     49{txt}){col 67}= {res}      5.07
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0288
{txt}{col 51}R-squared{col 67}= {res}    0.9129
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9113
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0795
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7233

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2111824{col 26}{space 2} .0937519{col 37}{space 1}    2.25{col 46}{space 3}0.029{col 54}{space 4} .0227809{col 67}{space 3} .3995839
{txt}ihs_C8_L3_sd {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 7}_cons {c |}{col 14}{res}{space 2} .8611055{col 26}{space 2} .0883114{col 37}{space 1}    9.75{col 46}{space 3}0.000{col 54}{space 4} .6836371{col 67}{space 3} 1.038574
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)

{com}. 
.         ** Calculate RCME **
.         
. forvalues q = 1(1)8 {c -(} 
{txt}  2{com}.         gen rmse_C`q'_ihs = . 
{txt}  3{com}.         egen aux_rmse_`q' = sum(v_e_`q'^2) if v_e_`q' != .  // empty vector RCME
{txt}  4{com}.         replace rmse_C`q'_ihs = (aux_rmse_`q'/4200)^0.5 
{txt}  5{com}.         
.         replace v_e_`q' = . 
{txt}  6{com}. {c )-}
{txt}(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)

{com}. 
. quietly drop aux_rmse_* err_C*  
{txt}
{com}.         
.         
. sum rmse_C*

{txt}    Variable {c |}        Obs        Mean    Std. dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 1}rmse_C1_log {c |}{res}      4,200    1.550189           0   1.550189   1.550189
{txt}{space 1}rmse_C2_log {c |}{res}      4,200    1.535627           0   1.535627   1.535627
{txt}{space 1}rmse_C3_log {c |}{res}      4,200    1.468281           0   1.468281   1.468281
{txt}{space 1}rmse_C4_log {c |}{res}      4,200    1.472919           0   1.472919   1.472919
{txt}{space 1}rmse_C5_log {c |}{res}      4,200    1.523507           0   1.523507   1.523507
{txt}{hline 13}{c +}{hline 57}
{space 1}rmse_C6_log {c |}{res}      4,200    1.421607           0   1.421607   1.421607
{txt}{space 1}rmse_C7_log {c |}{res}      4,200    1.475812           0   1.475812   1.475812
{txt}{space 1}rmse_C8_log {c |}{res}      4,200    1.641588           0   1.641588   1.641588
{txt}{space 1}rmse_C1_ihs {c |}{res}      4,200    1.759489           0   1.759489   1.759489
{txt}{space 1}rmse_C2_ihs {c |}{res}      4,200    1.737646           0   1.737646   1.737646
{txt}{hline 13}{c +}{hline 57}
{space 1}rmse_C3_ihs {c |}{res}      4,200    1.668265           0   1.668265   1.668265
{txt}{space 1}rmse_C4_ihs {c |}{res}      4,200    1.678687           0   1.678687   1.678687
{txt}{space 1}rmse_C5_ihs {c |}{res}      4,200    1.731733           0   1.731733   1.731733
{txt}{space 1}rmse_C6_ihs {c |}{res}      4,200    1.624875           0   1.624875   1.624875
{txt}{space 1}rmse_C7_ihs {c |}{res}      4,200    1.666147           0   1.666147   1.666147
{txt}{hline 13}{c +}{hline 57}
{space 1}rmse_C8_ihs {c |}{res}      4,200    1.853873           0   1.853873   1.853873
{txt}
{com}. 
.                 ************************
.                 *** Beam (B) ***********
.                 ************************
.                 
.     ** Results for log transformed data **
.         
. forvalues i = 1(1)7 {c -(}   // loop over countries 
{txt}  2{com}.         forvalues q = 1(1)8 {c -(} // loop over directions 
{txt}  3{com}.         
.                 reghdfe  log_csd    log_L3_sd   log_B`q'_L3_sd                                                          if cell <= 50 & year == 2014 & ccode != `i', absorb(cell ccode month) vce(cluster cell) //  excl. country i
{txt}  4{com}.                 estimates store log_B`q'
{txt}  5{com}.                 predict log_B`q'_`i', xb
{txt}  6{com}.                 gen err_B`q'_`i' =  log_csd - log_B`q'_`i'                                                                              if cell <= 50 & year == 2014  // note: residuals option in reghdfe is faster, but does not predict out-of-sample 
{txt}  7{com}.                 replace v_e_`q' = err_B`q'_`i' if ccode == `i' // copy to empty vector 
{txt}  8{com}.                 /* check predictions 
>                 sum err_B`q'_`i' if ccode == 1 // 600
>                 sum err_B`q'_`i' // 4,200 
>                 */ 
.         {c )-}
{txt}  9{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.05
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8828
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8806
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1803
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7365

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .319082{col 26}{space 2} .0769871{col 37}{space 1}    4.14{col 46}{space 3}0.000{col 54}{space 4} .1643707{col 67}{space 3} .4737934
{txt}log_B1_L3_sd {c |}{col 14}{res}{space 2} .1173709{col 26}{space 2} .0477982{col 37}{space 1}    2.46{col 46}{space 3}0.018{col 54}{space 4} .0213168{col 67}{space 3}  .213425
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2903322{col 26}{space 2} .1579988{col 37}{space 1}    1.84{col 46}{space 3}0.072{col 54}{space 4}-.0271784{col 67}{space 3} .6078428
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.21
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8854
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8832
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1983
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7283

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3175043{col 26}{space 2} .0738686{col 37}{space 1}    4.30{col 46}{space 3}0.000{col 54}{space 4} .1690598{col 67}{space 3} .4659487
{txt}log_B2_L3_sd {c |}{col 14}{res}{space 2}  .163064{col 26}{space 2} .0681684{col 37}{space 1}    2.39{col 46}{space 3}0.021{col 54}{space 4} .0260745{col 67}{space 3} .3000536
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2736232{col 26}{space 2}  .176928{col 37}{space 1}    1.55{col 46}{space 3}0.128{col 54}{space 4} -.081927{col 67}{space 3} .6291733
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.78
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8859
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8837
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2018
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7267

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3201808{col 26}{space 2} .0738131{col 37}{space 1}    4.34{col 46}{space 3}0.000{col 54}{space 4} .1718479{col 67}{space 3} .4685137
{txt}log_B3_L3_sd {c |}{col 14}{res}{space 2} .1656246{col 26}{space 2} .0614383{col 37}{space 1}    2.70{col 46}{space 3}0.010{col 54}{space 4} .0421598{col 67}{space 3} .2890895
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3297683{col 26}{space 2} .1408804{col 37}{space 1}    2.34{col 46}{space 3}0.023{col 54}{space 4} .0466585{col 67}{space 3}  .612878
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.98
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8866
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8845
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2068
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7244

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3049995{col 26}{space 2} .0756917{col 37}{space 1}    4.03{col 46}{space 3}0.000{col 54}{space 4} .1528914{col 67}{space 3} .4571077
{txt}log_B4_L3_sd {c |}{col 14}{res}{space 2} .1824783{col 26}{space 2} .0637457{col 37}{space 1}    2.86{col 46}{space 3}0.006{col 54}{space 4} .0543764{col 67}{space 3} .3105801
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3853711{col 26}{space 2} .1216821{col 37}{space 1}    3.17{col 46}{space 3}0.003{col 54}{space 4} .1408417{col 67}{space 3} .6299005
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.12
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8890
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8868
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2230
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7170

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3048264{col 26}{space 2}  .076147{col 37}{space 1}    4.00{col 46}{space 3}0.000{col 54}{space 4} .1518033{col 67}{space 3} .4578495
{txt}log_B5_L3_sd {c |}{col 14}{res}{space 2}  .194455{col 26}{space 2} .0561728{col 37}{space 1}    3.46{col 46}{space 3}0.001{col 54}{space 4} .0815716{col 67}{space 3} .3073385
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4070308{col 26}{space 2} .0951887{col 37}{space 1}    4.28{col 46}{space 3}0.000{col 54}{space 4} .2157418{col 67}{space 3} .5983197
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.46
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8917
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8896
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2420
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7082

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .293961{col 26}{space 2} .0766428{col 37}{space 1}    3.84{col 46}{space 3}0.000{col 54}{space 4} .1399415{col 67}{space 3} .4479805
{txt}log_B6_L3_sd {c |}{col 14}{res}{space 2} .2511123{col 26}{space 2} .0734351{col 37}{space 1}    3.42{col 46}{space 3}0.001{col 54}{space 4} .1035391{col 67}{space 3} .3986856
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .400976{col 26}{space 2} .0991182{col 37}{space 1}    4.05{col 46}{space 3}0.000{col 54}{space 4} .2017906{col 67}{space 3} .6001614
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.88
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8844
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8822
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1912
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7315

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3049539{col 26}{space 2} .0768039{col 37}{space 1}    3.97{col 46}{space 3}0.000{col 54}{space 4} .1506108{col 67}{space 3} .4592971
{txt}log_B7_L3_sd {c |}{col 14}{res}{space 2} .1632903{col 26}{space 2} .0613276{col 37}{space 1}    2.66{col 46}{space 3}0.010{col 54}{space 4} .0400478{col 67}{space 3} .2865328
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3778796{col 26}{space 2} .1125745{col 37}{space 1}    3.36{col 46}{space 3}0.002{col 54}{space 4} .1516527{col 67}{space 3} .6041064
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     23.07
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8801
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8778
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1610
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7451

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3382619{col 26}{space 2} .0773618{col 37}{space 1}    4.37{col 46}{space 3}0.000{col 54}{space 4} .1827976{col 67}{space 3} .4937262
{txt}log_B8_L3_sd {c |}{col 14}{res}{space 2} .1327512{col 26}{space 2} .0774978{col 37}{space 1}    1.71{col 46}{space 3}0.093{col 54}{space 4}-.0229864{col 67}{space 3} .2884888
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.3413585{col 26}{space 2} .5325852{col 37}{space 1}   -0.64{col 46}{space 3}0.525{col 54}{space 4}-1.411629{col 67}{space 3} .7289115
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.34
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8832
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8810
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1895
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7134

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3472058{col 26}{space 2} .0989181{col 37}{space 1}    3.51{col 46}{space 3}0.001{col 54}{space 4} .1484224{col 67}{space 3} .5459892
{txt}log_B1_L3_sd {c |}{col 14}{res}{space 2} .0738884{col 26}{space 2} .0366955{col 37}{space 1}    2.01{col 46}{space 3}0.050{col 54}{space 4}  .000146{col 67}{space 3} .1476309
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3479796{col 26}{space 2}  .123341{col 37}{space 1}    2.82{col 46}{space 3}0.007{col 54}{space 4} .1001165{col 67}{space 3} .5958426
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      6.57
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0030
{txt}{col 51}R-squared{col 67}= {res}    0.8839
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8817
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1943
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7113

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3452204{col 26}{space 2} .0954184{col 37}{space 1}    3.62{col 46}{space 3}0.001{col 54}{space 4} .1534699{col 67}{space 3} .5369708
{txt}log_B2_L3_sd {c |}{col 14}{res}{space 2}  .095668{col 26}{space 2} .0535259{col 37}{space 1}    1.79{col 46}{space 3}0.080{col 54}{space 4}-.0118963{col 67}{space 3} .2032323
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3565916{col 26}{space 2} .1635445{col 37}{space 1}    2.18{col 46}{space 3}0.034{col 54}{space 4} .0279367{col 67}{space 3} .6852465
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.64
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0013
{txt}{col 51}R-squared{col 67}= {res}    0.8852
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8830
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2031
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7074

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3471499{col 26}{space 2} .0952315{col 37}{space 1}    3.65{col 46}{space 3}0.001{col 54}{space 4}  .155775{col 67}{space 3} .5385249
{txt}log_B3_L3_sd {c |}{col 14}{res}{space 2} .1201601{col 26}{space 2} .0533631{col 37}{space 1}    2.25{col 46}{space 3}0.029{col 54}{space 4}  .012923{col 67}{space 3} .2273972
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3490877{col 26}{space 2} .1336471{col 37}{space 1}    2.61{col 46}{space 3}0.012{col 54}{space 4} .0805138{col 67}{space 3} .6176615
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.06
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0020
{txt}{col 51}R-squared{col 67}= {res}    0.8856
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8834
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2060
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7061

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3373572{col 26}{space 2} .0961084{col 37}{space 1}    3.51{col 46}{space 3}0.001{col 54}{space 4} .1442201{col 67}{space 3} .5304943
{txt}log_B4_L3_sd {c |}{col 14}{res}{space 2} .1341508{col 26}{space 2} .0562321{col 37}{space 1}    2.39{col 46}{space 3}0.021{col 54}{space 4} .0211481{col 67}{space 3} .2471534
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3899535{col 26}{space 2}  .121333{col 37}{space 1}    3.21{col 46}{space 3}0.002{col 54}{space 4} .1461256{col 67}{space 3} .6337813
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.04
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8876
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8855
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2201
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6998

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3347287{col 26}{space 2} .0985957{col 37}{space 1}    3.39{col 46}{space 3}0.001{col 54}{space 4} .1365932{col 67}{space 3} .5328641
{txt}log_B5_L3_sd {c |}{col 14}{res}{space 2} .1536636{col 26}{space 2} .0507306{col 37}{space 1}    3.03{col 46}{space 3}0.004{col 54}{space 4} .0517166{col 67}{space 3} .2556106
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3987846{col 26}{space 2} .0911277{col 37}{space 1}    4.38{col 46}{space 3}0.000{col 54}{space 4} .2156566{col 67}{space 3} .5819125
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.06
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8898
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8876
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2349
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6931

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3265707{col 26}{space 2} .0994596{col 37}{space 1}    3.28{col 46}{space 3}0.002{col 54}{space 4} .1266991{col 67}{space 3} .5264422
{txt}log_B6_L3_sd {c |}{col 14}{res}{space 2} .2029979{col 26}{space 2} .0662709{col 37}{space 1}    3.06{col 46}{space 3}0.004{col 54}{space 4} .0698215{col 67}{space 3} .3361743
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3913633{col 26}{space 2} .0926256{col 37}{space 1}    4.23{col 46}{space 3}0.000{col 54}{space 4} .2052252{col 67}{space 3} .5775015
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.36
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8852
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8830
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2033
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7073

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3314461{col 26}{space 2} .1011292{col 37}{space 1}    3.28{col 46}{space 3}0.002{col 54}{space 4} .1282193{col 67}{space 3} .5346729
{txt}log_B7_L3_sd {c |}{col 14}{res}{space 2} .1402399{col 26}{space 2}  .052896{col 37}{space 1}    2.65{col 46}{space 3}0.011{col 54}{space 4} .0339414{col 67}{space 3} .2465384
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3541462{col 26}{space 2} .1004499{col 37}{space 1}    3.53{col 46}{space 3}0.001{col 54}{space 4} .1522846{col 67}{space 3} .5560078
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     16.03
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8819
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8796
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1801
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7175

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3600502{col 26}{space 2} .0971328{col 37}{space 1}    3.71{col 46}{space 3}0.001{col 54}{space 4} .1648544{col 67}{space 3} .5552459
{txt}log_B8_L3_sd {c |}{col 14}{res}{space 2} .0763771{col 26}{space 2}  .071846{col 37}{space 1}    1.06{col 46}{space 3}0.293{col 54}{space 4}-.0680028{col 67}{space 3}  .220757
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .0197108{col 26}{space 2} .4668502{col 37}{space 1}    0.04{col 46}{space 3}0.966{col 54}{space 4}-.9184598{col 67}{space 3} .9578814
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     16.14
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8853
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8831
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2068
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6877

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3549673{col 26}{space 2} .0720042{col 37}{space 1}    4.93{col 46}{space 3}0.000{col 54}{space 4} .2102695{col 67}{space 3} .4996651
{txt}log_B1_L3_sd {c |}{col 14}{res}{space 2} .1167424{col 26}{space 2} .0522176{col 37}{space 1}    2.24{col 46}{space 3}0.030{col 54}{space 4} .0118072{col 67}{space 3} .2216776
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2293642{col 26}{space 2} .1557251{col 37}{space 1}    1.47{col 46}{space 3}0.147{col 54}{space 4}-.0835771{col 67}{space 3} .5423056
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.17
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8847
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8825
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2028
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6894

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3562848{col 26}{space 2} .0695698{col 37}{space 1}    5.12{col 46}{space 3}0.000{col 54}{space 4}  .216479{col 67}{space 3} .4960906
{txt}log_B2_L3_sd {c |}{col 14}{res}{space 2} .1085432{col 26}{space 2} .0686294{col 37}{space 1}    1.58{col 46}{space 3}0.120{col 54}{space 4}-.0293728{col 67}{space 3} .2464592
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3318133{col 26}{space 2} .1760017{col 37}{space 1}    1.89{col 46}{space 3}0.065{col 54}{space 4}-.0218754{col 67}{space 3} .6855019
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.40
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8862
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8840
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2130
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6850

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3573971{col 26}{space 2} .0693937{col 37}{space 1}    5.15{col 46}{space 3}0.000{col 54}{space 4} .2179453{col 67}{space 3} .4968488
{txt}log_B3_L3_sd {c |}{col 14}{res}{space 2} .1297685{col 26}{space 2} .0611466{col 37}{space 1}    2.12{col 46}{space 3}0.039{col 54}{space 4} .0068898{col 67}{space 3} .2526473
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3334148{col 26}{space 2} .1362693{col 37}{space 1}    2.45{col 46}{space 3}0.018{col 54}{space 4} .0595714{col 67}{space 3} .6072582
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.60
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8865
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8843
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2155
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6839

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3466506{col 26}{space 2}   .06969{col 37}{space 1}    4.97{col 46}{space 3}0.000{col 54}{space 4} .2066034{col 67}{space 3} .4866979
{txt}log_B4_L3_sd {c |}{col 14}{res}{space 2} .1422668{col 26}{space 2}  .068591{col 37}{space 1}    2.07{col 46}{space 3}0.043{col 54}{space 4} .0044281{col 67}{space 3} .2801056
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3746713{col 26}{space 2} .1228136{col 37}{space 1}    3.05{col 46}{space 3}0.004{col 54}{space 4} .1278681{col 67}{space 3} .6214745
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.58
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8862
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8840
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2131
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6849

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3521792{col 26}{space 2} .0711587{col 37}{space 1}    4.95{col 46}{space 3}0.000{col 54}{space 4} .2091805{col 67}{space 3}  .495178
{txt}log_B5_L3_sd {c |}{col 14}{res}{space 2}  .119836{col 26}{space 2}  .053904{col 37}{space 1}    2.22{col 46}{space 3}0.031{col 54}{space 4} .0115119{col 67}{space 3} .2281602
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4228979{col 26}{space 2} .0905563{col 37}{space 1}    4.67{col 46}{space 3}0.000{col 54}{space 4} .2409181{col 67}{space 3} .6048777
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.46
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8876
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8855
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2232
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6805

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3446103{col 26}{space 2} .0715502{col 37}{space 1}    4.82{col 46}{space 3}0.000{col 54}{space 4} .2008247{col 67}{space 3} .4883958
{txt}log_B6_L3_sd {c |}{col 14}{res}{space 2} .1578258{col 26}{space 2} .0691534{col 37}{space 1}    2.28{col 46}{space 3}0.027{col 54}{space 4} .0188569{col 67}{space 3} .2967947
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .416206{col 26}{space 2} .0918387{col 37}{space 1}    4.53{col 46}{space 3}0.000{col 54}{space 4} .2316492{col 67}{space 3} .6007629
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.90
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8846
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8824
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2021
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6897

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3515164{col 26}{space 2} .0688714{col 37}{space 1}    5.10{col 46}{space 3}0.000{col 54}{space 4} .2131142{col 67}{space 3} .4899187
{txt}log_B7_L3_sd {c |}{col 14}{res}{space 2} .1237218{col 26}{space 2} .0585746{col 37}{space 1}    2.11{col 46}{space 3}0.040{col 54}{space 4} .0060117{col 67}{space 3} .2414319
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3716773{col 26}{space 2} .1151527{col 37}{space 1}    3.23{col 46}{space 3}0.002{col 54}{space 4} .1402693{col 67}{space 3} .6030853
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     16.78
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8820
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8797
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1843
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6973

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3728277{col 26}{space 2} .0717578{col 37}{space 1}    5.20{col 46}{space 3}0.000{col 54}{space 4} .2286249{col 67}{space 3} .5170304
{txt}log_B8_L3_sd {c |}{col 14}{res}{space 2} .0254554{col 26}{space 2} .0619971{col 37}{space 1}    0.41{col 46}{space 3}0.683{col 54}{space 4}-.0991324{col 67}{space 3} .1500433
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3776453{col 26}{space 2} .4195323{col 37}{space 1}    0.90{col 46}{space 3}0.372{col 54}{space 4}-.4654365{col 67}{space 3} 1.220727
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.27
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8917
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8896
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1555
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7192

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3015617{col 26}{space 2} .0763467{col 37}{space 1}    3.95{col 46}{space 3}0.000{col 54}{space 4} .1481373{col 67}{space 3}  .454986
{txt}log_B1_L3_sd {c |}{col 14}{res}{space 2} .0885937{col 26}{space 2} .0365741{col 37}{space 1}    2.42{col 46}{space 3}0.019{col 54}{space 4} .0150953{col 67}{space 3}  .162092
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3735724{col 26}{space 2} .1353747{col 37}{space 1}    2.76{col 46}{space 3}0.008{col 54}{space 4} .1015267{col 67}{space 3} .6456181
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.36
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0008
{txt}{col 51}R-squared{col 67}= {res}    0.8926
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8906
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1627
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7162

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3005917{col 26}{space 2} .0735238{col 37}{space 1}    4.09{col 46}{space 3}0.000{col 54}{space 4} .1528401{col 67}{space 3} .4483433
{txt}log_B2_L3_sd {c |}{col 14}{res}{space 2} .1113227{col 26}{space 2} .0614431{col 37}{space 1}    1.81{col 46}{space 3}0.076{col 54}{space 4}-.0121519{col 67}{space 3} .2347973
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3911298{col 26}{space 2} .1818633{col 37}{space 1}    2.15{col 46}{space 3}0.036{col 54}{space 4} .0256617{col 67}{space 3} .7565978
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.99
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0005
{txt}{col 51}R-squared{col 67}= {res}    0.8941
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8921
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1741
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7113

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2995161{col 26}{space 2} .0740302{col 37}{space 1}    4.05{col 46}{space 3}0.000{col 54}{space 4} .1507469{col 67}{space 3} .4482853
{txt}log_B3_L3_sd {c |}{col 14}{res}{space 2} .1375209{col 26}{space 2} .0575849{col 37}{space 1}    2.39{col 46}{space 3}0.021{col 54}{space 4} .0217997{col 67}{space 3}  .253242
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3843853{col 26}{space 2} .1443814{col 37}{space 1}    2.66{col 46}{space 3}0.010{col 54}{space 4}   .09424{col 67}{space 3} .6745307
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.89
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0011
{txt}{col 51}R-squared{col 67}= {res}    0.8941
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8921
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1742
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7113

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2869181{col 26}{space 2} .0758815{col 37}{space 1}    3.78{col 46}{space 3}0.000{col 54}{space 4} .1344286{col 67}{space 3} .4394077
{txt}log_B4_L3_sd {c |}{col 14}{res}{space 2}  .142432{col 26}{space 2} .0562536{col 37}{space 1}    2.53{col 46}{space 3}0.015{col 54}{space 4} .0293861{col 67}{space 3} .2554779
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .450979{col 26}{space 2} .1230008{col 37}{space 1}    3.67{col 46}{space 3}0.001{col 54}{space 4} .2037997{col 67}{space 3} .6981583
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.45
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8950
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8929
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1808
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7084

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2877353{col 26}{space 2} .0783634{col 37}{space 1}    3.67{col 46}{space 3}0.001{col 54}{space 4} .1302581{col 67}{space 3} .4452125
{txt}log_B5_L3_sd {c |}{col 14}{res}{space 2} .1416027{col 26}{space 2} .0473891{col 37}{space 1}    2.99{col 46}{space 3}0.004{col 54}{space 4} .0463708{col 67}{space 3} .2368347
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4875459{col 26}{space 2}  .090921{col 37}{space 1}    5.36{col 46}{space 3}0.000{col 54}{space 4} .3048333{col 67}{space 3} .6702585
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.32
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8968
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8948
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1949
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7023

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2780067{col 26}{space 2} .0793526{col 37}{space 1}    3.50{col 46}{space 3}0.001{col 54}{space 4} .1185417{col 67}{space 3} .4374717
{txt}log_B6_L3_sd {c |}{col 14}{res}{space 2} .1867715{col 26}{space 2} .0608207{col 37}{space 1}    3.07{col 46}{space 3}0.003{col 54}{space 4} .0645478{col 67}{space 3} .3089953
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4760675{col 26}{space 2} .0939145{col 37}{space 1}    5.07{col 46}{space 3}0.000{col 54}{space 4} .2873393{col 67}{space 3} .6647957
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.93
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8930
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8909
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1653
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7151

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2926985{col 26}{space 2} .0750996{col 37}{space 1}    3.90{col 46}{space 3}0.000{col 54}{space 4} .1417801{col 67}{space 3} .4436169
{txt}log_B7_L3_sd {c |}{col 14}{res}{space 2} .1415205{col 26}{space 2} .0549134{col 37}{space 1}    2.58{col 46}{space 3}0.013{col 54}{space 4} .0311679{col 67}{space 3} .2518732
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4138967{col 26}{space 2} .1100141{col 37}{space 1}    3.76{col 46}{space 3}0.000{col 54}{space 4} .1928152{col 67}{space 3} .6349783
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     23.70
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8901
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8880
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1431
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7245

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3177587{col 26}{space 2} .0752415{col 37}{space 1}    4.22{col 46}{space 3}0.000{col 54}{space 4} .1665553{col 67}{space 3} .4689621
{txt}log_B8_L3_sd {c |}{col 14}{res}{space 2} .1129966{col 26}{space 2} .0823439{col 37}{space 1}    1.37{col 46}{space 3}0.176{col 54}{space 4}-.0524796{col 67}{space 3} .2784728
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.1937573{col 26}{space 2} .5734157{col 37}{space 1}   -0.34{col 46}{space 3}0.737{col 54}{space 4}-1.346079{col 67}{space 3} .9585646
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.09
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8730
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8705
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1742
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7543

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3240589{col 26}{space 2} .0824784{col 37}{space 1}    3.93{col 46}{space 3}0.000{col 54}{space 4} .1583124{col 67}{space 3} .4898054
{txt}log_B1_L3_sd {c |}{col 14}{res}{space 2} .0973159{col 26}{space 2} .0419393{col 37}{space 1}    2.32{col 46}{space 3}0.025{col 54}{space 4} .0130356{col 67}{space 3} .1815961
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3066019{col 26}{space 2} .1468196{col 37}{space 1}    2.09{col 46}{space 3}0.042{col 54}{space 4} .0115568{col 67}{space 3} .6016471
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.33
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0008
{txt}{col 51}R-squared{col 67}= {res}    0.8746
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8722
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1848
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7495

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3228456{col 26}{space 2} .0800723{col 37}{space 1}    4.03{col 46}{space 3}0.000{col 54}{space 4} .1619343{col 67}{space 3}  .483757
{txt}log_B2_L3_sd {c |}{col 14}{res}{space 2} .1293558{col 26}{space 2} .0615445{col 37}{space 1}    2.10{col 46}{space 3}0.041{col 54}{space 4} .0056775{col 67}{space 3} .2530341
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3076757{col 26}{space 2} .1763543{col 37}{space 1}    1.74{col 46}{space 3}0.087{col 54}{space 4}-.0467214{col 67}{space 3} .6620729
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.54
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8765
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8742
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1974
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7437

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3209937{col 26}{space 2} .0797723{col 37}{space 1}    4.02{col 46}{space 3}0.000{col 54}{space 4} .1606853{col 67}{space 3} .4813021
{txt}log_B3_L3_sd {c |}{col 14}{res}{space 2} .1565326{col 26}{space 2} .0584215{col 37}{space 1}    2.68{col 46}{space 3}0.010{col 54}{space 4} .0391302{col 67}{space 3} .2739349
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3077205{col 26}{space 2} .1422258{col 37}{space 1}    2.16{col 46}{space 3}0.035{col 54}{space 4} .0219072{col 67}{space 3} .5935339
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.95
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0010
{txt}{col 51}R-squared{col 67}= {res}    0.8762
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8739
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1954
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7446

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3100671{col 26}{space 2} .0806522{col 37}{space 1}    3.84{col 46}{space 3}0.000{col 54}{space 4} .1479905{col 67}{space 3} .4721437
{txt}log_B4_L3_sd {c |}{col 14}{res}{space 2} .1579558{col 26}{space 2} .0665689{col 37}{space 1}    2.37{col 46}{space 3}0.022{col 54}{space 4} .0241806{col 67}{space 3}  .291731
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3864293{col 26}{space 2} .1340623{col 37}{space 1}    2.88{col 46}{space 3}0.006{col 54}{space 4} .1170211{col 67}{space 3} .6558374
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.52
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8778
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8754
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2054
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7399

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3087262{col 26}{space 2} .0821507{col 37}{space 1}    3.76{col 46}{space 3}0.000{col 54}{space 4} .1436381{col 67}{space 3} .4738143
{txt}log_B5_L3_sd {c |}{col 14}{res}{space 2} .1672871{col 26}{space 2} .0566825{col 37}{space 1}    2.95{col 46}{space 3}0.005{col 54}{space 4} .0533793{col 67}{space 3} .2811948
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .417119{col 26}{space 2} .1033366{col 37}{space 1}    4.04{col 46}{space 3}0.000{col 54}{space 4} .2094564{col 67}{space 3} .6247817
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.48
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8798
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8775
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2186
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7338

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3000906{col 26}{space 2} .0826228{col 37}{space 1}    3.63{col 46}{space 3}0.001{col 54}{space 4} .1340539{col 67}{space 3} .4661272
{txt}log_B6_L3_sd {c |}{col 14}{res}{space 2} .2124264{col 26}{space 2} .0708178{col 37}{space 1}    3.00{col 46}{space 3}0.004{col 54}{space 4} .0701126{col 67}{space 3} .3547401
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .414053{col 26}{space 2} .1039293{col 37}{space 1}    3.98{col 46}{space 3}0.000{col 54}{space 4} .2051993{col 67}{space 3} .6229068
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.93
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8738
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8713
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1794
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7520

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .310101{col 26}{space 2} .0809195{col 37}{space 1}    3.83{col 46}{space 3}0.000{col 54}{space 4} .1474872{col 67}{space 3} .4727147
{txt}log_B7_L3_sd {c |}{col 14}{res}{space 2} .1378093{col 26}{space 2} .0563524{col 37}{space 1}    2.45{col 46}{space 3}0.018{col 54}{space 4} .0245649{col 67}{space 3} .2510537
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3853172{col 26}{space 2} .1167456{col 37}{space 1}    3.30{col 46}{space 3}0.002{col 54}{space 4} .1507081{col 67}{space 3} .6199263
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     19.74
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8706
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8681
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1587
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7614

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .338311{col 26}{space 2}  .081582{col 37}{space 1}    4.15{col 46}{space 3}0.000{col 54}{space 4} .1743658{col 67}{space 3} .5022562
{txt}log_B8_L3_sd {c |}{col 14}{res}{space 2} .0695357{col 26}{space 2} .0756581{col 37}{space 1}    0.92{col 46}{space 3}0.363{col 54}{space 4} -.082505{col 67}{space 3} .2215763
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .0937789{col 26}{space 2} .5067136{col 37}{space 1}    0.19{col 46}{space 3}0.854{col 54}{space 4}-.9245002{col 67}{space 3} 1.112058
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.17
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0009
{txt}{col 51}R-squared{col 67}= {res}    0.8828
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8805
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1399
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6799

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .306222{col 26}{space 2} .0823061{col 37}{space 1}    3.72{col 46}{space 3}0.001{col 54}{space 4} .1408217{col 67}{space 3} .4716224
{txt}log_B1_L3_sd {c |}{col 14}{res}{space 2} .0737877{col 26}{space 2} .0332528{col 37}{space 1}    2.22{col 46}{space 3}0.031{col 54}{space 4} .0069638{col 67}{space 3} .1406116
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .365049{col 26}{space 2} .1227373{col 37}{space 1}    2.97{col 46}{space 3}0.005{col 54}{space 4} .1183992{col 67}{space 3} .6116988
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.43
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8866
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8844
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1681
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6687

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2866277{col 26}{space 2} .0815135{col 37}{space 1}    3.52{col 46}{space 3}0.001{col 54}{space 4} .1228201{col 67}{space 3} .4504352
{txt}log_B2_L3_sd {c |}{col 14}{res}{space 2} .1473324{col 26}{space 2} .0562873{col 37}{space 1}    2.62{col 46}{space 3}0.012{col 54}{space 4} .0342189{col 67}{space 3} .2604459
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .2681003{col 26}{space 2} .1338277{col 37}{space 1}    2.00{col 46}{space 3}0.051{col 54}{space 4}-.0008366{col 67}{space 3} .5370371
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.49
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8866
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8844
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1683
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6686

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .295897{col 26}{space 2} .0796806{col 37}{space 1}    3.71{col 46}{space 3}0.001{col 54}{space 4} .1357729{col 67}{space 3} .4560212
{txt}log_B3_L3_sd {c |}{col 14}{res}{space 2} .1453405{col 26}{space 2} .0535624{col 37}{space 1}    2.71{col 46}{space 3}0.009{col 54}{space 4} .0377028{col 67}{space 3} .2529781
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3218249{col 26}{space 2} .1142602{col 37}{space 1}    2.82{col 46}{space 3}0.007{col 54}{space 4} .0922104{col 67}{space 3} .5514393
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.37
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8862
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8841
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1655
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6697

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2828354{col 26}{space 2} .0825564{col 37}{space 1}    3.43{col 46}{space 3}0.001{col 54}{space 4} .1169321{col 67}{space 3} .4487388
{txt}log_B4_L3_sd {c |}{col 14}{res}{space 2}  .150121{col 26}{space 2} .0584008{col 37}{space 1}    2.57{col 46}{space 3}0.013{col 54}{space 4} .0327603{col 67}{space 3} .2674817
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3866681{col 26}{space 2} .1002029{col 37}{space 1}    3.86{col 46}{space 3}0.000{col 54}{space 4} .1853029{col 67}{space 3} .5880333
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.11
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8879
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8857
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1776
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6648

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .274577{col 26}{space 2} .0812592{col 37}{space 1}    3.38{col 46}{space 3}0.001{col 54}{space 4} .1112806{col 67}{space 3} .4378734
{txt}log_B5_L3_sd {c |}{col 14}{res}{space 2} .1620506{col 26}{space 2} .0515612{col 37}{space 1}    3.14{col 46}{space 3}0.003{col 54}{space 4} .0584344{col 67}{space 3} .2656667
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4186899{col 26}{space 2} .0808404{col 37}{space 1}    5.18{col 46}{space 3}0.000{col 54}{space 4}  .256235{col 67}{space 3} .5811449
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.62
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8888
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8866
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1841
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6622

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2678998{col 26}{space 2} .0817492{col 37}{space 1}    3.28{col 46}{space 3}0.002{col 54}{space 4} .1036186{col 67}{space 3}  .432181
{txt}log_B6_L3_sd {c |}{col 14}{res}{space 2} .1935694{col 26}{space 2} .0632154{col 37}{space 1}    3.06{col 46}{space 3}0.004{col 54}{space 4} .0665332{col 67}{space 3} .3206055
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .422531{col 26}{space 2} .0818744{col 37}{space 1}    5.16{col 46}{space 3}0.000{col 54}{space 4} .2579983{col 67}{space 3} .5870637
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.88
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8832
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8810
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1433
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6786

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2961843{col 26}{space 2} .0812226{col 37}{space 1}    3.65{col 46}{space 3}0.001{col 54}{space 4} .1329613{col 67}{space 3} .4594073
{txt}log_B7_L3_sd {c |}{col 14}{res}{space 2} .1020004{col 26}{space 2} .0381956{col 37}{space 1}    2.67{col 46}{space 3}0.010{col 54}{space 4} .0252434{col 67}{space 3} .1787575
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4258053{col 26}{space 2} .0855874{col 37}{space 1}    4.98{col 46}{space 3}0.000{col 54}{space 4}  .253811{col 67}{space 3} .5977997
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.04
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8815
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8792
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1306
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6836

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3204272{col 26}{space 2} .0818657{col 37}{space 1}    3.91{col 46}{space 3}0.000{col 54}{space 4}  .155912{col 67}{space 3} .4849424
{txt}log_B8_L3_sd {c |}{col 14}{res}{space 2} .0824762{col 26}{space 2} .0730264{col 37}{space 1}    1.13{col 46}{space 3}0.264{col 54}{space 4}-.0642757{col 67}{space 3} .2292282
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.0046696{col 26}{space 2} .4910548{col 37}{space 1}   -0.01{col 46}{space 3}0.992{col 54}{space 4}-.9914811{col 67}{space 3} .9821418
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      5.28
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0084
{txt}{col 51}R-squared{col 67}= {res}    0.9141
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9124
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1017
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6472

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2221853{col 26}{space 2} .0931445{col 37}{space 1}    2.39{col 46}{space 3}0.021{col 54}{space 4} .0350045{col 67}{space 3} .4093661
{txt}log_B1_L3_sd {c |}{col 14}{res}{space 2} .0583661{col 26}{space 2} .0277896{col 37}{space 1}    2.10{col 46}{space 3}0.041{col 54}{space 4} .0025207{col 67}{space 3} .1142115
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5675415{col 26}{space 2} .1158745{col 37}{space 1}    4.90{col 46}{space 3}0.000{col 54}{space 4} .3346831{col 67}{space 3}    .8004
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.92
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0632
{txt}{col 51}R-squared{col 67}= {res}    0.9142
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9125
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1024
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6470

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2231652{col 26}{space 2} .0925266{col 37}{space 1}    2.41{col 46}{space 3}0.020{col 54}{space 4} .0372261{col 67}{space 3} .4091043
{txt}log_B2_L3_sd {c |}{col 14}{res}{space 2} .0645335{col 26}{space 2} .0492327{col 37}{space 1}    1.31{col 46}{space 3}0.196{col 54}{space 4}-.0344033{col 67}{space 3} .1634702
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5986144{col 26}{space 2} .1701715{col 37}{space 1}    3.52{col 46}{space 3}0.001{col 54}{space 4} .2566419{col 67}{space 3} .9405869
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.57
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0355
{txt}{col 51}R-squared{col 67}= {res}    0.9148
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9132
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1095
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6444

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2233306{col 26}{space 2} .0934204{col 37}{space 1}    2.39{col 46}{space 3}0.021{col 54}{space 4} .0355954{col 67}{space 3} .4110658
{txt}log_B3_L3_sd {c |}{col 14}{res}{space 2} .0833895{col 26}{space 2} .0415619{col 37}{space 1}    2.01{col 46}{space 3}0.050{col 54}{space 4}-.0001322{col 67}{space 3} .1669112
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5884931{col 26}{space 2} .1332313{col 37}{space 1}    4.42{col 46}{space 3}0.000{col 54}{space 4} .3207547{col 67}{space 3} .8562315
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.95
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0616
{txt}{col 51}R-squared{col 67}= {res}    0.9142
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9125
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1026
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6469

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2191238{col 26}{space 2} .0911079{col 37}{space 1}    2.41{col 46}{space 3}0.020{col 54}{space 4} .0360357{col 67}{space 3} .4022119
{txt}log_B4_L3_sd {c |}{col 14}{res}{space 2}  .069072{col 26}{space 2} .0527336{col 37}{space 1}    1.31{col 46}{space 3}0.196{col 54}{space 4}-.0369001{col 67}{space 3} .1750441
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6511137{col 26}{space 2} .1433497{col 37}{space 1}    4.54{col 46}{space 3}0.000{col 54}{space 4} .3630418{col 67}{space 3} .9391856
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.48
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0388
{txt}{col 51}R-squared{col 67}= {res}    0.9148
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9132
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1093
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6445

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2183165{col 26}{space 2} .0932264{col 37}{space 1}    2.34{col 46}{space 3}0.023{col 54}{space 4}  .030971{col 67}{space 3}  .405662
{txt}log_B5_L3_sd {c |}{col 14}{res}{space 2} .0827914{col 26}{space 2} .0386392{col 37}{space 1}    2.14{col 46}{space 3}0.037{col 54}{space 4}  .005143{col 67}{space 3} .1604398
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6495431{col 26}{space 2} .1106153{col 37}{space 1}    5.87{col 46}{space 3}0.000{col 54}{space 4} .4272534{col 67}{space 3} .8718327
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.58
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0354
{txt}{col 51}R-squared{col 67}= {res}    0.9155
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9139
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1164
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6419

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2}  .213912{col 26}{space 2} .0936058{col 37}{space 1}    2.29{col 46}{space 3}0.027{col 54}{space 4} .0258041{col 67}{space 3} .4020198
{txt}log_B6_L3_sd {c |}{col 14}{res}{space 2} .1120027{col 26}{space 2}  .049687{col 37}{space 1}    2.25{col 46}{space 3}0.029{col 54}{space 4} .0121529{col 67}{space 3} .2118525
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6381832{col 26}{space 2} .1135892{col 37}{space 1}    5.62{col 46}{space 3}0.000{col 54}{space 4} .4099172{col 67}{space 3} .8664492
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      4.17
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0212
{txt}{col 51}R-squared{col 67}= {res}    0.9139
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9122
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0992
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6481

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2193138{col 26}{space 2} .0923221{col 37}{space 1}    2.38{col 46}{space 3}0.021{col 54}{space 4} .0337856{col 67}{space 3} .4048421
{txt}log_B7_L3_sd {c |}{col 14}{res}{space 2} .0613915{col 26}{space 2} .0370544{col 37}{space 1}    1.66{col 46}{space 3}0.104{col 54}{space 4} -.013072{col 67}{space 3} .1358551
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6479482{col 26}{space 2} .1019086{col 37}{space 1}    6.36{col 46}{space 3}0.000{col 54}{space 4} .4431552{col 67}{space 3} .8527412
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.81
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0011
{txt}{col 51}R-squared{col 67}= {res}    0.9135
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9118
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0951
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.6496

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2306003{col 26}{space 2} .0905615{col 37}{space 1}    2.55{col 46}{space 3}0.014{col 54}{space 4} .0486101{col 67}{space 3} .4125905
{txt}log_B8_L3_sd {c |}{col 14}{res}{space 2} .0925884{col 26}{space 2} .0841863{col 37}{space 1}    1.10{col 46}{space 3}0.277{col 54}{space 4}-.0765903{col 67}{space 3} .2617671
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .0408829{col 26}{space 2} .6047983{col 37}{space 1}    0.07{col 46}{space 3}0.946{col 54}{space 4}-1.174505{col 67}{space 3} 1.256271
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)

{com}. 
.         ** Balculate RBME **
.         
. forvalues q = 1(1)8 {c -(} 
{txt}  2{com}.         gen rmse_B`q'_log = . 
{txt}  3{com}.         egen aux_rmse_`q' = sum(v_e_`q'^2) if v_e_`q' != .  // empty vector RBME
{txt}  4{com}.         replace rmse_B`q'_log = (aux_rmse_`q'/4200)^0.5 
{txt}  5{com}.         
.         replace v_e_`q' = . 
{txt}  6{com}. {c )-}
{txt}(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)

{com}. 
. quietly drop aux_rmse_* err_B*
{txt}
{com}. 
.         ************************ compare RMSE *****************************
. sum rmse_B*

{txt}    Variable {c |}        Obs        Mean    Std. dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 1}rmse_B1_log {c |}{res}      4,200    1.568749           0   1.568749   1.568749
{txt}{space 1}rmse_B2_log {c |}{res}      4,200    1.519433           0   1.519433   1.519433
{txt}{space 1}rmse_B3_log {c |}{res}      4,200    1.484053           0   1.484053   1.484053
{txt}{space 1}rmse_B4_log {c |}{res}      4,200     1.49971           0    1.49971    1.49971
{txt}{space 1}rmse_B5_log {c |}{res}      4,200    1.483429           0   1.483429   1.483429
{txt}{hline 13}{c +}{hline 57}
{space 1}rmse_B6_log {c |}{res}      4,200    1.430853           0   1.430853   1.430853
{txt}{space 1}rmse_B7_log {c |}{res}      4,200    1.513427           0   1.513427   1.513427
{txt}{space 1}rmse_B8_log {c |}{res}      4,200    1.622027           0   1.622027   1.622027
{txt}
{com}. 
. 
. 
.     ** Results for ihs transformed data **
.         
.         
. forvalues i = 1(1)7 {c -(}   // loop over countries 
{txt}  2{com}.         forvalues q = 1(1)8 {c -(} // loop over directions 
{txt}  3{com}.         
.                 reghdfe  ihs_csd    ihs_L3_sd   ihs_B`q'_L3_sd                                                          if cell <= 50 & year == 2014 & ccode != `i', absorb(cell ccode month) vce(cluster cell) //  excl. country i
{txt}  4{com}.                 estimates store ihs_B`q'
{txt}  5{com}.                 predict ihs_B`q'_`i', xb
{txt}  6{com}.                 gen err_B`q'_`i' =  ihs_csd - ihs_B`q'_`i'                                                                              if cell <= 50 & year == 2014  // note: residuals option in reghdfe is faster, but does not predict out-of-sample 
{txt}  7{com}.                 replace v_e_`q' = err_B`q'_`i' if ccode == `i' // copy to empty vector 
{txt}  8{com}.                 /* check predictions 
>                 sum err_B`q'_`i' if ccode == 1 // 600
>                 sum err_B`q'_`i' // 4,200 
>                 */ 
.         {c )-}
{txt}  9{com}. {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.24
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8819
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8797
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1581
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8208

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3067025{col 26}{space 2} .0757001{col 37}{space 1}    4.05{col 46}{space 3}0.000{col 54}{space 4} .1545775{col 67}{space 3} .4588275
{txt}ihs_B1_L3_sd {c |}{col 14}{res}{space 2}   .10209{col 26}{space 2} .0433573{col 37}{space 1}    2.35{col 46}{space 3}0.023{col 54}{space 4} .0149602{col 67}{space 3} .1892198
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3863962{col 26}{space 2} .1666083{col 37}{space 1}    2.32{col 46}{space 3}0.025{col 54}{space 4} .0515843{col 67}{space 3} .7212081
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.13
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8842
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8820
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1745
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8128

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3058662{col 26}{space 2} .0738187{col 37}{space 1}    4.14{col 46}{space 3}0.000{col 54}{space 4}  .157522{col 67}{space 3} .4542104
{txt}ihs_B2_L3_sd {c |}{col 14}{res}{space 2} .1491813{col 26}{space 2} .0658516{col 37}{space 1}    2.27{col 46}{space 3}0.028{col 54}{space 4} .0168474{col 67}{space 3} .2815151
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3483095{col 26}{space 2}  .199784{col 37}{space 1}    1.74{col 46}{space 3}0.088{col 54}{space 4}-.0531715{col 67}{space 3} .7497905
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.74
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8850
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8828
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1800
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8101

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3089253{col 26}{space 2} .0740912{col 37}{space 1}    4.17{col 46}{space 3}0.000{col 54}{space 4} .1600334{col 67}{space 3} .4578172
{txt}ihs_B3_L3_sd {c |}{col 14}{res}{space 2} .1564857{col 26}{space 2} .0586435{col 37}{space 1}    2.67{col 46}{space 3}0.010{col 54}{space 4} .0386372{col 67}{space 3} .2743342
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3947069{col 26}{space 2} .1587747{col 37}{space 1}    2.49{col 46}{space 3}0.016{col 54}{space 4} .0756373{col 67}{space 3} .7137766
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.04
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0005
{txt}{col 51}R-squared{col 67}= {res}    0.8860
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8838
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1870
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8066

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2939894{col 26}{space 2} .0761745{col 37}{space 1}    3.86{col 46}{space 3}0.000{col 54}{space 4} .1409111{col 67}{space 3} .4470678
{txt}ihs_B4_L3_sd {c |}{col 14}{res}{space 2} .1780423{col 26}{space 2} .0614546{col 37}{space 1}    2.90{col 46}{space 3}0.006{col 54}{space 4} .0545446{col 67}{space 3}   .30154
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .446983{col 26}{space 2} .1387403{col 37}{space 1}    3.22{col 46}{space 3}0.002{col 54}{space 4} .1681738{col 67}{space 3} .7257921
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.65
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8881
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8859
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2020
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7991

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2963901{col 26}{space 2} .0764793{col 37}{space 1}    3.88{col 46}{space 3}0.000{col 54}{space 4} .1426991{col 67}{space 3} .4500811
{txt}ihs_B5_L3_sd {c |}{col 14}{res}{space 2} .1843517{col 26}{space 2} .0534061{col 37}{space 1}    3.45{col 46}{space 3}0.001{col 54}{space 4} .0770281{col 67}{space 3} .2916753
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4745296{col 26}{space 2} .1057439{col 37}{space 1}    4.49{col 46}{space 3}0.000{col 54}{space 4} .2620294{col 67}{space 3} .6870299
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.84
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8910
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8889
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2228
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7887

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2866781{col 26}{space 2} .0775214{col 37}{space 1}    3.70{col 46}{space 3}0.001{col 54}{space 4}  .130893{col 67}{space 3} .4424632
{txt}ihs_B6_L3_sd {c |}{col 14}{res}{space 2}  .246301{col 26}{space 2} .0718994{col 37}{space 1}    3.43{col 46}{space 3}0.001{col 54}{space 4} .1018138{col 67}{space 3} .3907882
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4608639{col 26}{space 2} .1123295{col 37}{space 1}    4.10{col 46}{space 3}0.000{col 54}{space 4} .2351292{col 67}{space 3} .6865986
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     13.25
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8841
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8819
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1736
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8132

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2928217{col 26}{space 2} .0754153{col 37}{space 1}    3.88{col 46}{space 3}0.000{col 54}{space 4}  .141269{col 67}{space 3} .4443745
{txt}ihs_B7_L3_sd {c |}{col 14}{res}{space 2} .1640162{col 26}{space 2} .0608551{col 37}{space 1}    2.70{col 46}{space 3}0.010{col 54}{space 4} .0417233{col 67}{space 3} .2863091
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .431806{col 26}{space 2} .1239964{col 37}{space 1}    3.48{col 46}{space 3}0.001{col 54}{space 4}  .182626{col 67}{space 3} .6809861
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     24.91
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8800
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8776
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1439
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8277

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3212745{col 26}{space 2} .0756051{col 37}{space 1}    4.25{col 46}{space 3}0.000{col 54}{space 4} .1693403{col 67}{space 3} .4732087
{txt}ihs_B8_L3_sd {c |}{col 14}{res}{space 2} .1422852{col 26}{space 2} .0847452{col 37}{space 1}    1.68{col 46}{space 3}0.100{col 54}{space 4}-.0280167{col 67}{space 3} .3125871
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.4152117{col 26}{space 2} .6365093{col 37}{space 1}   -0.65{col 46}{space 3}0.517{col 54}{space 4}-1.694325{col 67}{space 3} .8639017
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.07
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0009
{txt}{col 51}R-squared{col 67}= {res}    0.8833
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8810
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1670
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7920

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .330401{col 26}{space 2} .1029281{col 37}{space 1}    3.21{col 46}{space 3}0.002{col 54}{space 4} .1235592{col 67}{space 3} .5372428
{txt}ihs_B1_L3_sd {c |}{col 14}{res}{space 2} .0609204{col 26}{space 2} .0329424{col 37}{space 1}    1.85{col 46}{space 3}0.070{col 54}{space 4}-.0052799{col 67}{space 3} .1271206
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4474824{col 26}{space 2} .1296692{col 37}{space 1}    3.45{col 46}{space 3}0.001{col 54}{space 4} .1869024{col 67}{space 3} .7080625
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      5.37
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0078
{txt}{col 51}R-squared{col 67}= {res}    0.8839
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8816
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1712
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7900

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3288877{col 26}{space 2} .1004022{col 37}{space 1}    3.28{col 46}{space 3}0.002{col 54}{space 4} .1271219{col 67}{space 3} .5306536
{txt}ihs_B2_L3_sd {c |}{col 14}{res}{space 2} .0824608{col 26}{space 2} .0503549{col 37}{space 1}    1.64{col 46}{space 3}0.108{col 54}{space 4}-.0187312{col 67}{space 3} .1836528
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4448847{col 26}{space 2} .1842384{col 37}{space 1}    2.41{col 46}{space 3}0.020{col 54}{space 4} .0746439{col 67}{space 3} .8151256
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      6.27
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0038
{txt}{col 51}R-squared{col 67}= {res}    0.8850
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8828
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1794
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7861

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3316432{col 26}{space 2} .1003334{col 37}{space 1}    3.31{col 46}{space 3}0.002{col 54}{space 4} .1300157{col 67}{space 3} .5332707
{txt}ihs_B3_L3_sd {c |}{col 14}{res}{space 2} .1077101{col 26}{space 2} .0498656{col 37}{space 1}    2.16{col 46}{space 3}0.036{col 54}{space 4} .0075015{col 67}{space 3} .2079187
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4268018{col 26}{space 2} .1523107{col 37}{space 1}    2.80{col 46}{space 3}0.007{col 54}{space 4}  .120722{col 67}{space 3} .7328817
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      5.88
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0051
{txt}{col 51}R-squared{col 67}= {res}    0.8855
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8833
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1832
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7843

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3225163{col 26}{space 2}  .101368{col 37}{space 1}    3.18{col 46}{space 3}0.003{col 54}{space 4} .1188097{col 67}{space 3} .5262229
{txt}ihs_B4_L3_sd {c |}{col 14}{res}{space 2} .1244716{col 26}{space 2} .0535783{col 37}{space 1}    2.32{col 46}{space 3}0.024{col 54}{space 4}  .016802{col 67}{space 3} .2321413
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4628642{col 26}{space 2} .1402935{col 37}{space 1}    3.30{col 46}{space 3}0.002{col 54}{space 4} .1809338{col 67}{space 3} .7447946
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.15
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8873
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8851
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1959
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7781

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3219048{col 26}{space 2} .1035428{col 37}{space 1}    3.11{col 46}{space 3}0.003{col 54}{space 4} .1138277{col 67}{space 3} .5299818
{txt}ihs_B5_L3_sd {c |}{col 14}{res}{space 2} .1398719{col 26}{space 2}  .047142{col 37}{space 1}    2.97{col 46}{space 3}0.005{col 54}{space 4} .0451364{col 67}{space 3} .2346073
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4727353{col 26}{space 2} .1030942{col 37}{space 1}    4.59{col 46}{space 3}0.000{col 54}{space 4} .2655598{col 67}{space 3} .6799108
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.17
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8894
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8873
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2109
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7708

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3150557{col 26}{space 2} .1045849{col 37}{space 1}    3.01{col 46}{space 3}0.004{col 54}{space 4} .1048844{col 67}{space 3}  .525227
{txt}ihs_B6_L3_sd {c |}{col 14}{res}{space 2} .1906755{col 26}{space 2} .0633199{col 37}{space 1}    3.01{col 46}{space 3}0.004{col 54}{space 4} .0634294{col 67}{space 3} .3179216
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4598834{col 26}{space 2} .1056887{col 37}{space 1}    4.35{col 46}{space 3}0.000{col 54}{space 4}  .247494{col 67}{space 3} .6722728
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.25
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8855
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8833
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1828
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7845

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3156869{col 26}{space 2} .1056269{col 37}{space 1}    2.99{col 46}{space 3}0.004{col 54}{space 4} .1034218{col 67}{space 3} .5279521
{txt}ihs_B7_L3_sd {c |}{col 14}{res}{space 2} .1374391{col 26}{space 2} .0527989{col 37}{space 1}    2.60{col 46}{space 3}0.012{col 54}{space 4} .0313358{col 67}{space 3} .2435424
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4133694{col 26}{space 2} .1101287{col 37}{space 1}    3.75{col 46}{space 3}0.000{col 54}{space 4} .1920575{col 67}{space 3} .6346813
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     15.36
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8824
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8801
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1609
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7949

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3399102{col 26}{space 2} .1008147{col 37}{space 1}    3.37{col 46}{space 3}0.001{col 54}{space 4} .1373154{col 67}{space 3} .5425049
{txt}ihs_B8_L3_sd {c |}{col 14}{res}{space 2} .0798366{col 26}{space 2} .0782052{col 37}{space 1}    1.02{col 46}{space 3}0.312{col 54}{space 4}-.0773227{col 67}{space 3} .2369958
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .0271423{col 26}{space 2} .5540035{col 37}{space 1}    0.05{col 46}{space 3}0.961{col 54}{space 4}-1.086169{col 67}{space 3} 1.140454
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     14.96
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8841
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8819
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1830
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7715

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3410794{col 26}{space 2} .0712254{col 37}{space 1}    4.79{col 46}{space 3}0.000{col 54}{space 4} .1979467{col 67}{space 3} .4842122
{txt}ihs_B1_L3_sd {c |}{col 14}{res}{space 2} .1005636{col 26}{space 2} .0474695{col 37}{space 1}    2.12{col 46}{space 3}0.039{col 54}{space 4}   .00517{col 67}{space 3} .1959572
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3221687{col 26}{space 2} .1630874{col 37}{space 1}    1.98{col 46}{space 3}0.054{col 54}{space 4}-.0055677{col 67}{space 3} .6499052
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.19
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8839
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8817
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1814
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7722

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .341767{col 26}{space 2}  .069818{col 37}{space 1}    4.90{col 46}{space 3}0.000{col 54}{space 4} .2014626{col 67}{space 3} .4820715
{txt}ihs_B2_L3_sd {c |}{col 14}{res}{space 2} .0981815{col 26}{space 2} .0651335{col 37}{space 1}    1.51{col 46}{space 3}0.138{col 54}{space 4}-.0327092{col 67}{space 3} .2290721
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4096716{col 26}{space 2} .1965241{col 37}{space 1}    2.08{col 46}{space 3}0.042{col 54}{space 4} .0147418{col 67}{space 3} .8046015
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.04
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8854
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8832
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1919
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7672

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3435418{col 26}{space 2} .0701658{col 37}{space 1}    4.90{col 46}{space 3}0.000{col 54}{space 4} .2025383{col 67}{space 3} .4845454
{txt}ihs_B3_L3_sd {c |}{col 14}{res}{space 2} .1222451{col 26}{space 2} .0584124{col 37}{space 1}    2.09{col 46}{space 3}0.042{col 54}{space 4} .0048611{col 67}{space 3} .2396292
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3994362{col 26}{space 2}   .15418{col 37}{space 1}    2.59{col 46}{space 3}0.013{col 54}{space 4}    .0896{col 67}{space 3} .7092724
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.21
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8858
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8836
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1946
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7659

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3330131{col 26}{space 2} .0705838{col 37}{space 1}    4.72{col 46}{space 3}0.000{col 54}{space 4} .1911696{col 67}{space 3} .4748565
{txt}ihs_B4_L3_sd {c |}{col 14}{res}{space 2}  .135111{col 26}{space 2} .0656832{col 37}{space 1}    2.06{col 46}{space 3}0.045{col 54}{space 4} .0031156{col 67}{space 3} .2671063
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4435114{col 26}{space 2} .1402933{col 37}{space 1}    3.16{col 46}{space 3}0.003{col 54}{space 4} .1615814{col 67}{space 3} .7254413
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.17
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8854
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8832
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1916
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7674

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .338739{col 26}{space 2} .0715824{col 37}{space 1}    4.73{col 46}{space 3}0.000{col 54}{space 4} .1948887{col 67}{space 3} .4825893
{txt}ihs_B5_L3_sd {c |}{col 14}{res}{space 2} .1098849{col 26}{space 2} .0499148{col 37}{space 1}    2.20{col 46}{space 3}0.032{col 54}{space 4} .0095772{col 67}{space 3} .2101925
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5004193{col 26}{space 2} .1020623{col 37}{space 1}    4.90{col 46}{space 3}0.000{col 54}{space 4} .2953175{col 67}{space 3} .7055211
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.96
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8868
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8847
{txt}{col 51}Within R-sq.{col 67}= {res}    0.2020
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7624

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3319825{col 26}{space 2} .0722722{col 37}{space 1}    4.59{col 46}{space 3}0.000{col 54}{space 4} .1867461{col 67}{space 3}  .477219
{txt}ihs_B6_L3_sd {c |}{col 14}{res}{space 2} .1500104{col 26}{space 2} .0656239{col 37}{space 1}    2.29{col 46}{space 3}0.027{col 54}{space 4} .0181343{col 67}{space 3} .2818865
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4886309{col 26}{space 2} .1048174{col 37}{space 1}    4.66{col 46}{space 3}0.000{col 54}{space 4} .2779925{col 67}{space 3} .6992692
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.79
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8840
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8817
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1816
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7721

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3368291{col 26}{space 2} .0681568{col 37}{space 1}    4.94{col 46}{space 3}0.000{col 54}{space 4} .1998628{col 67}{space 3} .4737953
{txt}ihs_B7_L3_sd {c |}{col 14}{res}{space 2} .1162173{col 26}{space 2} .0547207{col 37}{space 1}    2.12{col 46}{space 3}0.039{col 54}{space 4} .0062519{col 67}{space 3} .2261827
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4444072{col 26}{space 2} .1276217{col 37}{space 1}    3.48{col 46}{space 3}0.001{col 54}{space 4} .1879418{col 67}{space 3} .7008726
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     18.35
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8818
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8795
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1665
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7792

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3539787{col 26}{space 2} .0703361{col 37}{space 1}    5.03{col 46}{space 3}0.000{col 54}{space 4} .2126331{col 67}{space 3} .4953243
{txt}ihs_B8_L3_sd {c |}{col 14}{res}{space 2} .0316659{col 26}{space 2} .0676894{col 37}{space 1}    0.47{col 46}{space 3}0.642{col 54}{space 4}-.1043611{col 67}{space 3} .1676928
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .400935{col 26}{space 2} .4970498{col 37}{space 1}    0.81{col 46}{space 3}0.424{col 54}{space 4}-.5979239{col 67}{space 3} 1.399794
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.81
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0005
{txt}{col 51}R-squared{col 67}= {res}    0.8906
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8884
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1369
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8020

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2899272{col 26}{space 2} .0786012{col 37}{space 1}    3.69{col 46}{space 3}0.001{col 54}{space 4} .1319721{col 67}{space 3} .4478822
{txt}ihs_B1_L3_sd {c |}{col 14}{res}{space 2} .0746231{col 26}{space 2} .0332248{col 37}{space 1}    2.25{col 46}{space 3}0.029{col 54}{space 4} .0078555{col 67}{space 3} .1413908
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4786866{col 26}{space 2} .1443453{col 37}{space 1}    3.32{col 46}{space 3}0.002{col 54}{space 4} .1886138{col 67}{space 3} .7687594
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.13
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0019
{txt}{col 51}R-squared{col 67}= {res}    0.8914
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8893
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1438
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7987

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2891455{col 26}{space 2} .0767447{col 37}{space 1}    3.77{col 46}{space 3}0.000{col 54}{space 4} .1349212{col 67}{space 3} .4433698
{txt}ihs_B2_L3_sd {c |}{col 14}{res}{space 2} .0994791{col 26}{space 2} .0594904{col 37}{space 1}    1.67{col 46}{space 3}0.101{col 54}{space 4}-.0200714{col 67}{space 3} .2190295
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4782695{col 26}{space 2}   .20669{col 37}{space 1}    2.31{col 46}{space 3}0.025{col 54}{space 4} .0629103{col 67}{space 3} .8936286
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.53
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0014
{txt}{col 51}R-squared{col 67}= {res}    0.8929
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8909
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1557
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7932

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2890292{col 26}{space 2}  .077473{col 37}{space 1}    3.73{col 46}{space 3}0.000{col 54}{space 4} .1333415{col 67}{space 3}  .444717
{txt}ihs_B3_L3_sd {c |}{col 14}{res}{space 2} .1288836{col 26}{space 2} .0557068{col 37}{space 1}    2.31{col 46}{space 3}0.025{col 54}{space 4} .0169365{col 67}{space 3} .2408306
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}   .45582{col 26}{space 2} .1658739{col 37}{space 1}    2.75{col 46}{space 3}0.008{col 54}{space 4} .1224839{col 67}{space 3} .7891561
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      6.69
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0027
{txt}{col 51}R-squared{col 67}= {res}    0.8931
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8911
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1573
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7924

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2765011{col 26}{space 2} .0792108{col 37}{space 1}    3.49{col 46}{space 3}0.001{col 54}{space 4}  .117321{col 67}{space 3} .4356812
{txt}ihs_B4_L3_sd {c |}{col 14}{res}{space 2} .1370068{col 26}{space 2} .0552096{col 37}{space 1}    2.48{col 46}{space 3}0.017{col 54}{space 4} .0260589{col 67}{space 3} .2479546
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5222756{col 26}{space 2} .1431361{col 37}{space 1}    3.65{col 46}{space 3}0.001{col 54}{space 4} .2346329{col 67}{space 3} .8099183
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.27
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8938
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8918
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1628
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7898

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2787574{col 26}{space 2} .0813475{col 37}{space 1}    3.43{col 46}{space 3}0.001{col 54}{space 4} .1152835{col 67}{space 3} .4422314
{txt}ihs_B5_L3_sd {c |}{col 14}{res}{space 2} .1322051{col 26}{space 2} .0447817{col 37}{space 1}    2.95{col 46}{space 3}0.005{col 54}{space 4}  .042213{col 67}{space 3} .2221972
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .5653432{col 26}{space 2}  .104201{col 37}{space 1}    5.43{col 46}{space 3}0.000{col 54}{space 4} .3559434{col 67}{space 3} .7747429
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.15
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8957
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8937
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1773
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7829

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2700288{col 26}{space 2} .0825984{col 37}{space 1}    3.27{col 46}{space 3}0.002{col 54}{space 4}  .104041{col 67}{space 3} .4360165
{txt}ihs_B6_L3_sd {c |}{col 14}{res}{space 2} .1794853{col 26}{space 2} .0590469{col 37}{space 1}    3.04{col 46}{space 3}0.004{col 54}{space 4} .0608261{col 67}{space 3} .2981446
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .548523{col 26}{space 2} .1088091{col 37}{space 1}    5.04{col 46}{space 3}0.000{col 54}{space 4} .3298629{col 67}{space 3} .7671831
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.28
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8921
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8900
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1489
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7963

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2814392{col 26}{space 2} .0776036{col 37}{space 1}    3.63{col 46}{space 3}0.001{col 54}{space 4} .1254889{col 67}{space 3} .4373895
{txt}ihs_B7_L3_sd {c |}{col 14}{res}{space 2} .1380238{col 26}{space 2} .0527384{col 37}{space 1}    2.62{col 46}{space 3}0.012{col 54}{space 4} .0320421{col 67}{space 3} .2440055
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4796862{col 26}{space 2} .1203665{col 37}{space 1}    3.99{col 46}{space 3}0.000{col 54}{space 4} .2378008{col 67}{space 3} .7215717
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     25.06
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8895
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8874
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1288
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8057

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3024972{col 26}{space 2} .0768184{col 37}{space 1}    3.94{col 46}{space 3}0.000{col 54}{space 4} .1481249{col 67}{space 3} .4568695
{txt}ihs_B8_L3_sd {c |}{col 14}{res}{space 2} .1248645{col 26}{space 2} .0925893{col 37}{space 1}    1.35{col 46}{space 3}0.184{col 54}{space 4}-.0612007{col 67}{space 3} .3109297
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.2747708{col 26}{space 2} .7032368{col 37}{space 1}   -0.39{col 46}{space 3}0.698{col 54}{space 4}-1.687978{col 67}{space 3} 1.138436
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.92
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0005
{txt}{col 51}R-squared{col 67}= {res}    0.8720
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8696
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1515
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8414

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3092276{col 26}{space 2} .0824384{col 37}{space 1}    3.75{col 46}{space 3}0.000{col 54}{space 4} .1435615{col 67}{space 3} .4748938
{txt}ihs_B1_L3_sd {c |}{col 14}{res}{space 2} .0827008{col 26}{space 2} .0380604{col 37}{space 1}    2.17{col 46}{space 3}0.035{col 54}{space 4} .0062155{col 67}{space 3} .1591861
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4079128{col 26}{space 2} .1559669{col 37}{space 1}    2.62{col 46}{space 3}0.012{col 54}{space 4} .0944857{col 67}{space 3} .7213399
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.29
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0017
{txt}{col 51}R-squared{col 67}= {res}    0.8735
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8711
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1615
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8364

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3085912{col 26}{space 2} .0810703{col 37}{space 1}    3.81{col 46}{space 3}0.000{col 54}{space 4} .1456744{col 67}{space 3}  .471508
{txt}ihs_B2_L3_sd {c |}{col 14}{res}{space 2} .1167837{col 26}{space 2} .0598697{col 37}{space 1}    1.95{col 46}{space 3}0.057{col 54}{space 4}-.0035291{col 67}{space 3} .2370964
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3886358{col 26}{space 2} .2012053{col 37}{space 1}    1.93{col 46}{space 3}0.059{col 54}{space 4}-.0157014{col 67}{space 3} .7929731
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.29
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0008
{txt}{col 51}R-squared{col 67}= {res}    0.8755
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8731
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1748
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8298

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3077758{col 26}{space 2} .0810488{col 37}{space 1}    3.80{col 46}{space 3}0.000{col 54}{space 4} .1449022{col 67}{space 3} .4706494
{txt}ihs_B3_L3_sd {c |}{col 14}{res}{space 2} .1476291{col 26}{space 2} .0562097{col 37}{space 1}    2.63{col 46}{space 3}0.011{col 54}{space 4} .0346715{col 67}{space 3} .2605868
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3726864{col 26}{space 2} .1625448{col 37}{space 1}    2.29{col 46}{space 3}0.026{col 54}{space 4} .0460404{col 67}{space 3} .6993324
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      6.92
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0023
{txt}{col 51}R-squared{col 67}= {res}    0.8754
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8730
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1742
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8301

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2970709{col 26}{space 2} .0818774{col 37}{space 1}    3.63{col 46}{space 3}0.001{col 54}{space 4} .1325321{col 67}{space 3} .4616097
{txt}ihs_B4_L3_sd {c |}{col 14}{res}{space 2} .1512597{col 26}{space 2} .0649463{col 37}{space 1}    2.33{col 46}{space 3}0.024{col 54}{space 4} .0207453{col 67}{space 3} .2817741
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4550098{col 26}{space 2} .1550509{col 37}{space 1}    2.93{col 46}{space 3}0.005{col 54}{space 4} .1434234{col 67}{space 3} .7665962
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.42
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0007
{txt}{col 51}R-squared{col 67}= {res}    0.8766
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8742
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1818
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8262

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2981147{col 26}{space 2} .0831326{col 37}{space 1}    3.59{col 46}{space 3}0.001{col 54}{space 4} .1310536{col 67}{space 3} .4651759
{txt}ihs_B5_L3_sd {c |}{col 14}{res}{space 2} .1537141{col 26}{space 2} .0532578{col 37}{space 1}    2.89{col 46}{space 3}0.006{col 54}{space 4} .0466886{col 67}{space 3} .2607396
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4937598{col 26}{space 2} .1178116{col 37}{space 1}    4.19{col 46}{space 3}0.000{col 54}{space 4} .2570085{col 67}{space 3} .7305111
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.39
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0007
{txt}{col 51}R-squared{col 67}= {res}    0.8787
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8763
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1955
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8192

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2906136{col 26}{space 2}  .083778{col 37}{space 1}    3.47{col 46}{space 3}0.001{col 54}{space 4} .1222554{col 67}{space 3} .4589717
{txt}ihs_B6_L3_sd {c |}{col 14}{res}{space 2} .2013661{col 26}{space 2} .0680149{col 37}{space 1}    2.96{col 46}{space 3}0.005{col 54}{space 4} .0646851{col 67}{space 3} .3380472
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4852375{col 26}{space 2} .1197245{col 37}{space 1}    4.05{col 46}{space 3}0.000{col 54}{space 4} .2446422{col 67}{space 3} .7258328
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.16
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8731
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8707
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1587
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8378

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2963803{col 26}{space 2} .0807244{col 37}{space 1}    3.67{col 46}{space 3}0.001{col 54}{space 4} .1341585{col 67}{space 3} .4586021
{txt}ihs_B7_L3_sd {c |}{col 14}{res}{space 2} .1319168{col 26}{space 2} .0537125{col 37}{space 1}    2.46{col 46}{space 3}0.018{col 54}{space 4} .0239775{col 67}{space 3}  .239856
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4555575{col 26}{space 2} .1297533{col 37}{space 1}    3.51{col 46}{space 3}0.001{col 54}{space 4} .1948083{col 67}{space 3} .7163066
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     21.86
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8704
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8679
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1404
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.8469

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3195791{col 26}{space 2} .0810406{col 37}{space 1}    3.94{col 46}{space 3}0.000{col 54}{space 4} .1567219{col 67}{space 3} .4824363
{txt}ihs_B8_L3_sd {c |}{col 14}{res}{space 2} .0732438{col 26}{space 2} .0834532{col 37}{space 1}    0.88{col 46}{space 3}0.384{col 54}{space 4}-.0944617{col 67}{space 3} .2409493
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .1089141{col 26}{space 2} .6101557{col 37}{space 1}    0.18{col 46}{space 3}0.859{col 54}{space 4} -1.11724{col 67}{space 3} 1.335068
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      7.84
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0011
{txt}{col 51}R-squared{col 67}= {res}    0.8816
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8793
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1198
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7631

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2900204{col 26}{space 2} .0778551{col 37}{space 1}    3.73{col 46}{space 3}0.001{col 54}{space 4} .1335647{col 67}{space 3} .4464761
{txt}ihs_B1_L3_sd {c |}{col 14}{res}{space 2} .0637538{col 26}{space 2} .0318228{col 37}{space 1}    2.00{col 46}{space 3}0.051{col 54}{space 4}-.0001964{col 67}{space 3} .1277041
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .460448{col 26}{space 2} .1334293{col 37}{space 1}    3.45{col 46}{space 3}0.001{col 54}{space 4} .1923118{col 67}{space 3} .7285842
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.77
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8851
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8829
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1456
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7518

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .272757{col 26}{space 2}  .076552{col 37}{space 1}    3.56{col 46}{space 3}0.001{col 54}{space 4} .1189201{col 67}{space 3} .4265939
{txt}ihs_B2_L3_sd {c |}{col 14}{res}{space 2} .1384642{col 26}{space 2} .0573964{col 37}{space 1}    2.41{col 46}{space 3}0.020{col 54}{space 4} .0231219{col 67}{space 3} .2538065
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3348973{col 26}{space 2} .1557104{col 37}{space 1}    2.15{col 46}{space 3}0.036{col 54}{space 4} .0219855{col 67}{space 3} .6478091
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.95
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8853
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8831
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1477
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7509

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2825479{col 26}{space 2}  .075327{col 37}{space 1}    3.75{col 46}{space 3}0.000{col 54}{space 4} .1311727{col 67}{space 3} .4339231
{txt}ihs_B3_L3_sd {c |}{col 14}{res}{space 2}  .139611{col 26}{space 2} .0538211{col 37}{space 1}    2.59{col 46}{space 3}0.012{col 54}{space 4} .0314533{col 67}{space 3} .2477686
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3837893{col 26}{space 2} .1320258{col 37}{space 1}    2.91{col 46}{space 3}0.005{col 54}{space 4} .1184735{col 67}{space 3} .6491052
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.06
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8853
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8831
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1475
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7510

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2684348{col 26}{space 2} .0785242{col 37}{space 1}    3.42{col 46}{space 3}0.001{col 54}{space 4} .1106344{col 67}{space 3} .4262351
{txt}ihs_B4_L3_sd {c |}{col 14}{res}{space 2}  .149553{col 26}{space 2} .0592703{col 37}{space 1}    2.52{col 46}{space 3}0.015{col 54}{space 4} .0304448{col 67}{space 3} .2686611
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}  .448842{col 26}{space 2} .1149747{col 37}{space 1}    3.90{col 46}{space 3}0.000{col 54}{space 4} .2177918{col 67}{space 3} .6798922
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.70
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8866
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8844
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1568
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7469

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2637434{col 26}{space 2} .0770995{col 37}{space 1}    3.42{col 46}{space 3}0.001{col 54}{space 4} .1088062{col 67}{space 3} .4186806
{txt}ihs_B5_L3_sd {c |}{col 14}{res}{space 2}  .152261{col 26}{space 2} .0505999{col 37}{space 1}    3.01{col 46}{space 3}0.004{col 54}{space 4} .0505767{col 67}{space 3} .2539453
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4928543{col 26}{space 2} .0901507{col 37}{space 1}    5.47{col 46}{space 3}0.000{col 54}{space 4} .3116898{col 67}{space 3} .6740189
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.22
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8876
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8854
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1642
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7436

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2575432{col 26}{space 2} .0777548{col 37}{space 1}    3.31{col 46}{space 3}0.002{col 54}{space 4}  .101289{col 67}{space 3} .4137973
{txt}ihs_B6_L3_sd {c |}{col 14}{res}{space 2} .1865771{col 26}{space 2} .0633141{col 37}{space 1}    2.95{col 46}{space 3}0.005{col 54}{space 4} .0593428{col 67}{space 3} .3138115
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4932433{col 26}{space 2} .0922942{col 37}{space 1}    5.34{col 46}{space 3}0.000{col 54}{space 4} .3077711{col 67}{space 3} .6787155
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.07
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8823
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8801
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1253
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7607

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2803238{col 26}{space 2} .0763458{col 37}{space 1}    3.67{col 46}{space 3}0.001{col 54}{space 4} .1269011{col 67}{space 3} .4337464
{txt}ihs_B7_L3_sd {c |}{col 14}{res}{space 2} .1006631{col 26}{space 2} .0367105{col 37}{space 1}    2.74{col 46}{space 3}0.009{col 54}{space 4} .0268906{col 67}{space 3} .1744356
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4971149{col 26}{space 2} .0932521{col 37}{space 1}    5.33{col 46}{space 3}0.000{col 54}{space 4} .3097178{col 67}{space 3}  .684512
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.99
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8807
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8784
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1133
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7659

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .3010024{col 26}{space 2} .0772123{col 37}{space 1}    3.90{col 46}{space 3}0.000{col 54}{space 4} .1458384{col 67}{space 3} .4561663
{txt}ihs_B8_L3_sd {c |}{col 14}{res}{space 2} .0879722{col 26}{space 2} .0812618{col 37}{space 1}    1.08{col 46}{space 3}0.284{col 54}{space 4}-.0753295{col 67}{space 3}  .251274
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-.0112667{col 26}{space 2} .6022755{col 37}{space 1}   -0.02{col 46}{space 3}0.985{col 54}{space 4}-1.221585{col 67}{space 3} 1.199051
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      4.29
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0192
{txt}{col 51}R-squared{col 67}= {res}    0.9135
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9118
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0851
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7212

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2076506{col 26}{space 2} .0943443{col 37}{space 1}    2.20{col 46}{space 3}0.032{col 54}{space 4} .0180587{col 67}{space 3} .3972425
{txt}ihs_B1_L3_sd {c |}{col 14}{res}{space 2} .0471824{col 26}{space 2} .0250147{col 37}{space 1}    1.89{col 46}{space 3}0.065{col 54}{space 4}-.0030864{col 67}{space 3} .0974513
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6925813{col 26}{space 2} .1258939{col 37}{space 1}    5.50{col 46}{space 3}0.000{col 54}{space 4} .4395881{col 67}{space 3} .9455745
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.44
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0976
{txt}{col 51}R-squared{col 67}= {res}    0.9136
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9120
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0868
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7205

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2081979{col 26}{space 2} .0942502{col 37}{space 1}    2.21{col 46}{space 3}0.032{col 54}{space 4}  .018795{col 67}{space 3} .3976008
{txt}ihs_B2_L3_sd {c |}{col 14}{res}{space 2} .0576349{col 26}{space 2} .0492828{col 37}{space 1}    1.17{col 46}{space 3}0.248{col 54}{space 4}-.0414026{col 67}{space 3} .1566723
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7053677{col 26}{space 2} .1985803{col 37}{space 1}    3.55{col 46}{space 3}0.001{col 54}{space 4} .3063056{col 67}{space 3}  1.10443
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.90
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0646
{txt}{col 51}R-squared{col 67}= {res}    0.9143
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9126
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0938
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7177

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2091336{col 26}{space 2} .0954658{col 37}{space 1}    2.19{col 46}{space 3}0.033{col 54}{space 4} .0172879{col 67}{space 3} .4009792
{txt}ihs_B3_L3_sd {c |}{col 14}{res}{space 2} .0782178{col 26}{space 2}  .041686{col 37}{space 1}    1.88{col 46}{space 3}0.067{col 54}{space 4}-.0055533{col 67}{space 3} .1619889
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6852255{col 26}{space 2} .1572392{col 37}{space 1}    4.36{col 46}{space 3}0.000{col 54}{space 4} .3692415{col 67}{space 3}  1.00121
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.50
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0928
{txt}{col 51}R-squared{col 67}= {res}    0.9138
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9121
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0882
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7199

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2046477{col 26}{space 2} .0933027{col 37}{space 1}    2.19{col 46}{space 3}0.033{col 54}{space 4} .0171489{col 67}{space 3} .3921465
{txt}ihs_B4_L3_sd {c |}{col 14}{res}{space 2} .0670664{col 26}{space 2} .0540617{col 37}{space 1}    1.24{col 46}{space 3}0.221{col 54}{space 4}-.0415746{col 67}{space 3} .1757074
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7491399{col 26}{space 2} .1690256{col 37}{space 1}    4.43{col 46}{space 3}0.000{col 54}{space 4} .4094702{col 67}{space 3}  1.08881
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      2.96
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0614
{txt}{col 51}R-squared{col 67}= {res}    0.9143
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9127
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0940
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7176

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2051404{col 26}{space 2} .0951761{col 37}{space 1}    2.16{col 46}{space 3}0.036{col 54}{space 4} .0138768{col 67}{space 3} .3964041
{txt}ihs_B5_L3_sd {c |}{col 14}{res}{space 2} .0770925{col 26}{space 2} .0377237{col 37}{space 1}    2.04{col 46}{space 3}0.046{col 54}{space 4} .0012839{col 67}{space 3} .1529011
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7500897{col 26}{space 2} .1279041{col 37}{space 1}    5.86{col 46}{space 3}0.000{col 54}{space 4} .4930568{col 67}{space 3} 1.007123
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.13
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0528
{txt}{col 51}R-squared{col 67}= {res}    0.9150
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9134
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1016
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7146

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2014141{col 26}{space 2} .0956968{col 37}{space 1}    2.10{col 46}{space 3}0.040{col 54}{space 4} .0091042{col 67}{space 3} .3937241
{txt}ihs_B6_L3_sd {c |}{col 14}{res}{space 2} .1086049{col 26}{space 2} .0495178{col 37}{space 1}    2.19{col 46}{space 3}0.033{col 54}{space 4} .0090951{col 67}{space 3} .2081148
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7334881{col 26}{space 2} .1319396{col 37}{space 1}    5.56{col 46}{space 3}0.000{col 54}{space 4} .4683455{col 67}{space 3} .9986308
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      3.92
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0263
{txt}{col 51}R-squared{col 67}= {res}    0.9134
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9117
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0844
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7214

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2048729{col 26}{space 2} .0938693{col 37}{space 1}    2.18{col 46}{space 3}0.034{col 54}{space 4} .0162355{col 67}{space 3} .3935103
{txt}ihs_B7_L3_sd {c |}{col 14}{res}{space 2} .0570672{col 26}{space 2} .0342591{col 37}{space 1}    1.67{col 46}{space 3}0.102{col 54}{space 4}-.0117791{col 67}{space 3} .1259134
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .7511135{col 26}{space 2} .1103243{col 37}{space 1}    6.81{col 46}{space 3}0.000{col 54}{space 4} .5294085{col 67}{space 3} .9728185
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     3,600
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.14
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0009
{txt}{col 51}R-squared{col 67}= {res}    0.9131
{txt}{col 51}Adj R-squared{col 67}= {res}    0.9114
{txt}{col 51}Within R-sq.{col 67}= {res}    0.0813
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7226

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2142609{col 26}{space 2} .0916602{col 37}{space 1}    2.34{col 46}{space 3}0.024{col 54}{space 4} .0300628{col 67}{space 3} .3984589
{txt}ihs_B8_L3_sd {c |}{col 14}{res}{space 2} .1004487{col 26}{space 2} .0943119{col 37}{space 1}    1.07{col 46}{space 3}0.292{col 54}{space 4}-.0890782{col 67}{space 3} .2899755
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .0209257{col 26}{space 2} .7345112{col 37}{space 1}    0.03{col 46}{space 3}0.977{col 54}{space 4} -1.45513{col 67}{space 3} 1.496981
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        6{col 27}{space 1}        0{col 39}{result}{space 1}        6{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(600 real changes made)

{com}. 
.         ** Calculate RMSE **
.         
. forvalues q = 1(1)8 {c -(} 
{txt}  2{com}.         gen rmse_B`q'_ihs = . 
{txt}  3{com}.         egen aux_rmse_`q' = sum(v_e_`q'^2) if v_e_`q' != .  // empty vector RBME
{txt}  4{com}.         replace rmse_B`q'_ihs = (aux_rmse_`q'/4200)^0.5 
{txt}  5{com}.         
.         replace v_e_`q' = . 
{txt}  6{com}. {c )-}
{txt}(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)
(415,800 missing values generated)
(411,600 missing values generated)
(4,200 real changes made)
(4,200 real changes made, 4,200 to missing)

{com}. 
. quietly drop aux_rmse_* err_B*  
{txt}
{com}.         
.         
. sum rmse_B*

{txt}    Variable {c |}        Obs        Mean    Std. dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 1}rmse_B1_log {c |}{res}      4,200    1.568749           0   1.568749   1.568749
{txt}{space 1}rmse_B2_log {c |}{res}      4,200    1.519433           0   1.519433   1.519433
{txt}{space 1}rmse_B3_log {c |}{res}      4,200    1.484053           0   1.484053   1.484053
{txt}{space 1}rmse_B4_log {c |}{res}      4,200     1.49971           0    1.49971    1.49971
{txt}{space 1}rmse_B5_log {c |}{res}      4,200    1.483429           0   1.483429   1.483429
{txt}{hline 13}{c +}{hline 57}
{space 1}rmse_B6_log {c |}{res}      4,200    1.430853           0   1.430853   1.430853
{txt}{space 1}rmse_B7_log {c |}{res}      4,200    1.513427           0   1.513427   1.513427
{txt}{space 1}rmse_B8_log {c |}{res}      4,200    1.622027           0   1.622027   1.622027
{txt}{space 1}rmse_B1_ihs {c |}{res}      4,200    1.781921           0   1.781921   1.781921
{txt}{space 1}rmse_B2_ihs {c |}{res}      4,200    1.727731           0   1.727731   1.727731
{txt}{hline 13}{c +}{hline 57}
{space 1}rmse_B3_ihs {c |}{res}      4,200    1.684414           0   1.684414   1.684414
{txt}{space 1}rmse_B4_ihs {c |}{res}      4,200    1.696423           0   1.696423   1.696423
{txt}{space 1}rmse_B5_ihs {c |}{res}      4,200    1.684116           0   1.684116   1.684116
{txt}{space 1}rmse_B6_ihs {c |}{res}      4,200    1.619647           0   1.619647   1.619647
{txt}{space 1}rmse_B7_ihs {c |}{res}      4,200    1.709573           0   1.709573   1.709573
{txt}{hline 13}{c +}{hline 57}
{space 1}rmse_B8_ihs {c |}{res}      4,200    1.832649           0   1.832649   1.832649
{txt}
{com}. 
. log close 
      {txt}name:  {res}<unnamed>
       {txt}log:  {res}R:\WSV2\TBu_AKe\Spatial_NEW\Wmat_SCB_XVal\spatial_6_regs_s_1602_xval.smcl
  {txt}log type:  {res}smcl
 {txt}closed on:  {res}16 Feb 2023, 16:26:08
{txt}{.-}
{smcl}
{txt}{sf}{ul off}